MRS Oil stations have commenced the sale of petrol at ₦739 per litre, marking a significant increase in pump prices across Nigeria. The development comes amid ongoing fluctuations in global oil markets and domestic supply challenges, further intensifying concerns over rising living costs for citizens.
Industry observers note that the new price reflects adjustments in distribution and importation costs, as well as the impact of foreign exchange rates on fuel pricing. The hike is expected to trigger ripple effects on transportation fares, food prices, and general inflation, deepening economic pressures on households and businesses.
