MRS filling stations, one of the key oil marketing firms in the downstream, have raised the pump price of Premium Motor Spirit (petrol) to N925/litre in Lagos, from N885/litre as crude oil prices have maintained their recent surge.

The change in MRS petrol price came after the Dangote refinery raised the ex-depot price of the product from N825 to N880 on Friday. According to a post on its X handle on Saturday, MRS said PMS would now go for N955 per litre in the Southeast.

In Ogun, Oyo, Ondo, Osun and Ekiti, MRS customers are to buy the product at N935 a litre. MRS customers in the North East would buy petrol at the rate of N955 while those in the North West and North Central would pay N945 for the product.

It is expected that other Dangote partners like Heyden and AP will hike pump prices soon.

Analysts have earlier warned that higher crude prices could trigger an increase in local fuel prices, as refiners face rising costs for crude, the primary feedstock for petrol and diesel production.

Since Monday, depots hiked the pump prices of petrol after the escalating tension in the Middle East jerked up the prices of crude oil.

Petrol price rose from N825 to N840 on Monday. Rainoil’s price surged by N50, from N850 to N900 per litre. It was also reported that Fynefield and Mainland jerked their ex-depot prices to N930 and N920, adding N51 and N63 respectively.

As of Monday, Sigmund was selling at N920 per litre; Matrix Warri’s price was N910; NIPCO jumped to N895 from N827 last week, while Aiteo sold petrol at the rate of N840, as shown and seen Petroleumprice.com.