Marketers Release New Petrol Prices as Dangote Beats Importers by N20 Per Litre
- Dangote Refinery's petrol price remained below the estimated import parity price despite stable crude oil prices
- The latest MEMAN data showed mixed pricing trends for petrol, diesel and aviation fuel across Nigeria's major depots
- The competition between local refiners and fuel importers is expected to continue influencing pump prices across the country
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Dangote Refinery held its petrol price below the estimated cost of bringing the product into Nigeria, according to the latest energy market data published by the Major Energies Marketers Association of Nigeria (MEMAN) on Thursday, July 10, 2026.
MEMAN's Energy Bulletin placed the import parity price for Premium Motor Spirit (PMS) at N1,095.15 per litre. Dangote Refinery's coastal and gantry price stood at N1,075 per litre, leaving locally refined petrol approximately N20 per litre cheaper than the estimated cost of imported supplies.
Source: Getty Images
Just a few days ago, petrol was priced at an average rate of N1,210 most depots now sell below N1,200.
Dangote Fuel Prices Across Products
Beyond petrol, the bulletin showed Dangote Refinery's pricing across other major petroleum products remained steady. Automotive Gas Oil (AGO), commonly known as diesel, was sold at N1,500 per litre at the gantry, while aviation turbine kerosene (ATK) was priced at N1,300 per litre. Liquefied Petroleum Gas (LPG) carried a price tag of N925,000 per metric tonne.
The picture was less favourable to the local refiner when measured against import parity for those other products. MEMAN estimated the landing cost of diesel at N1,306.24 per litre, well below Dangote's N1,500 per litre gantry price.
Aviation fuel's import parity price of N1,292.66 per litre also came in slightly cheaper than the refinery's N1,300 per litre offer.
The average 30-day petrol price across the market was N1,064.42 per litre, while spot market rates ranged between N1,134.72 and N1,135.73 per litre.
Ex-Depot Prices Vary Across Nigeria
Regional price differences remained pronounced across Nigeria's major supply depots. Lagos posted the lowest ex-depot petrol prices
Petrol (PMS)
- Lagos: N1,072.00 – N1,075.50 per litre
- Warri: N1,100.00 – N1,125.00 per litre
- Port Harcourt: N1,138.00 – N1,150.00 per litre
- Calabar: N1,155.00 – N1,170.00 per litre
Source: Getty Images
Diesel (AGO)
- Lagos: N1,420.00 – N1,500.00 per litre
- Warri: N1,510.00 – N1,550.00 per litre
- Port Harcourt: N1,483.00 – N1,550.00 per litre
- Calabar: N1,500.00 – N1,510.00 per litre
Dangote Refinery drives sharp drop in petrol imports
Earlier, Legit.ng reported that Nigeria's spending on petrol imports declined dramatically in the first quarter of 2026, according to data released by the National Bureau of Statistics (NBS).
The report showed that the value of PMS imports plunged to N87.401 billion from N2.271 trillion recorded in the corresponding period of 2025, representing a 96.2% year-on-year decline.
The sharp reduction also meant that petrol was absent from the list of Nigeria's top 19 traded commodities with global markets, Africa, and the West African sub-region during the quarter.
Source: Legit.ng
