Petrol Import Price Drops Below Dangote’s Rate as Marketers Signal Possible Pump Price Shake-Up
- Petrol import prices have fallen below the rate offered by the Dangote Refinery as Nigerians battle fuel prices caused by increased crude oil costs
- Recent data shows that marketers brought in petrol at N26 cheaper than Dangote's ex-depot prices, raising hopes of possible price crashes
- Additionally, marketers have indicated that petrol prices may fall soon in Abuja and other parts of the country as more imported petroleum products enter Nigeria
PAY ATTENTION: Mark Legit.ng as a preferred source, and our content will appear higher in your Google feed!
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigerian motorists may be in line for temporary relief as the landing cost of imported petrol has fallen below the current ex-gantry price of Dangote Refinery.
The development comes as improved naira stability helps ease the cost of bringing refined petroleum products into Nigeria, although rising international crude oil prices could put fresh pressure on petrol prices in the coming days.
Source: Getty Images
Imported petrol now N26 cheaper
Data tracked by Legit.ng shows that imported Premium Motor Spirit (PMS), popularly known as petrol, was priced at about N1,239 per litre as of September 1, 2026.
The figure is N26 lower than the N1,265 per litre ex-gantry price offered by Dangote Refinery.
The development is significant because imported petrol had previously struggled to compete with locally refined products amid foreign exchange pressures and high international energy prices.
The latest figures indicate that changes in the exchange rate and global market conditions are reshaping the competitive landscape for petrol suppliers.
The Major Energy Marketers Association of Nigeria (MEMAN) pegged the import parity rate at N1,339.40 per dollar while tracking prevailing depot prices across major locations.
Depot prices remain above landing cost
Despite the lower landing cost, petrol prices at depots remain higher in several parts of the country.
MEMAN data showed that petrol sold at an average of about N1,270 per litre in Lagos, while the average price stood at N1,285 in Warri.
In Calabar, the average depot price was around N1,280 per litre.
The gap between landing costs and depot prices highlights the additional expenses involved in moving imported petrol through the supply chain, including logistics, storage, financing and distribution costs.
For motorists, however, the key question remains whether the lower import cost will translate into cheaper petrol at filling stations.
Marketers prepare to review pump prices
The latest development comes as marketers signal possible changes to petrol prices in the Federal Capital Territory and other parts of the country.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) said filling stations in Abuja are preparing to review their prices as fresh petroleum products enter the market.
IPMAN National Publicity Secretary, Chinedu Ukadike, disclosed this on Thursday, September 3, 2026, in Abuja during an interview with the News Agency of Nigeria (NAN).
Ukadike said the arrival of new supplies could influence marketers' pricing and sales strategies, although he noted that the exact timing of any adjustment remained uncertain.
He explained that marketers could begin purchasing the new products within the coming days, depending on when the supply process officially starts.
Once the products become available, filling station operators are expected to reassess their costs and determine whether pump prices should be adjusted.
Source: Getty Images
Rising crude prices could change the picture
While the current figures offer some hope for motorists, the outlook remains uncertain.
Global crude oil prices have been climbing towards the $100-per-barrel mark amid heightened geopolitical tensions in the Middle East. A sustained rise in crude prices could increase the cost of imported petrol and put renewed pressure on domestic prices.
There are also indications that Dangote Refinery could review its petrol price upward by at least N50 if market conditions continue to deteriorate.
This means Nigerian consumers could see competing forces shaping petrol prices in the coming weeks: a stronger naira and cheaper import costs on one side, and rising crude oil prices and supply costs on the other.
For now, the N26 price advantage enjoyed by imported petrol offers a potential window of relief, but whether that advantage reaches consumers at the pump will depend largely on supply costs, depot prices, exchange-rate movements and marketers' margins.
Marketers give reasons for petrol price hikes
Legit.ng previously reported that the recent petrol price hikes triggered by the Dangote Refinery have sent depot rates soaring across Nigeria. As the cost of fuel rises to alarming levels, many Nigerians are left grappling with the harsh economic impact, forcing them to rethink their daily expenses amidst a backdrop of escalating living costs.
Source: Legit.ng
