Mainland Oil Accelerates Services, Reduces Pump Prices

Mainland Oil and Gas Company Limited, has accelerated petrol retail services at all its over 54 stations across the country.

The company has also slashed the prices of the product at its retail outlets even at a time most other marketers have taken advantage of the prevailing supply crisis in the market to make huge profits.

Managing director of the company, Dr Chris Igwe, stated that the company has remained steadfast to regulatory compliance on pricing in line with its commitment to partnering the Nigerian National Petroleum Company (NNPC) Limited in taming price distortions in the domestic energy market.

He said the domestic fuel market requires disciplined players who must stick to existing regulations on sustainable supply, reliable services and stable prices. He explained that Mainland Oil values its unwavering reputation in disciplined and responsible operations above temporary jump in margins.

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A survey of the filling stations across the weekend showed most major markers in the country sell a liter of petrol at the range between N195 in Southwest zone and Abuja; N200 in North Central zone; N205 in South South zone; N210 in North West and South East zones;  and N220 in the North East zone.

Fuel supplies to the domestic market are sustained with the assistance of the NNPC Limited which has the statutory mandate for domestic energy security. However, partnership with key market players remains critical to addressing supply imbalances.

At retail outlets flying the Mainland Oil brand, pump prices for petrol capped at N195 per liter for the company’s petrol stations in Abuja.

Mainland oil forms part of the team of major marketers that keep prices in the steady price range. The company’s retail outlets normally host long queues of desperate motorists scrambling to buy fuel at government’s subsidised rates.