Marketers Release New Petrol Prices as Landing Cost Crashes by N21 Per Litre, Below Dangote’s Rate
- Imported petrol landed at N1,304 per litre, undercutting Dangote Refinery’s gantry price by N21 before distribution costs
- Imported diesel was slightly cheaper than Dangote’s supply, while aviation fuel cost more than the refinery’s quoted price
- Cheaper imports may pressure pump prices, but rising crude costs could quickly erase the savings
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigerian motorists could see further relief at filling stations after the landing cost of imported petrol dropped below the price charged by the Dangote Petroleum Refinery.
Latest industry data showed that Premium Motor Spirit, popularly called petrol, landed in Nigeria at about N1,304 per litre, compared with Dangote Refinery’s gantry price of N1,325 per litre.
Source: UGC
The figures leave imported petrol about N21 per litre cheaper before other distribution and retail costs are added.
The development comes as competition between imported petroleum products and supplies from Nigeria’s domestic refineries continues to shape prices across the downstream market.
Diesel cheaper, aviation fuel bucks trend
The price gap was also reflected in diesel.
Industry data showed that imported Automotive Gas Oil landed at about N1,839 per litre, N11 below Dangote Refinery’s reported price of N1,850 per litre.
Aviation fuel moved in the opposite direction. Its landing cost stood at approximately N1,745.91 per litre, significantly above the N1,591 per litre quoted for supply from the Lekki-based refinery.
The figures suggest that the relative advantage of imports currently varies considerably across petroleum products.
Import battle continues
The latest prices emerge amid a legal dispute over the continued importation of petroleum products into Nigeria.
Dangote Refinery had challenged the issuance of import licences by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to petroleum marketers.
A court recently rejected the refinery’s challenge, leaving authorised marketers able to continue importing petroleum products subject to Nigeria's regulatory framework.
The development means imported products can continue competing with locally refined supplies, potentially putting downward pressure on wholesale prices when international market conditions are favourable.
Why cheaper imports may not cut pump prices
However, a lower landing cost does not automatically translate into an equivalent reduction at filling stations.
Energy policy analyst Adeola Yusuf warned that rising international crude oil prices could quickly reverse the current advantage.
Source: Getty Images
“The current respite may not last. Right now, Brent is selling for about $107 a barrel and this can translate to higher fuel prices in Nigeria,” Yusuf said.
Dangote Refinery recently reduced its petrol gantry price by N25, from N1,350 to N1,325 per litre.
Some retail outlets have also started adjusting prices. NNPC stations and Dangote-backed MRS outlets have recently announced marginal reductions in pump prices.
For consumers, attention will now turn to whether the latest N1,304-per-litre import cost triggers another round of price cuts before higher crude prices filter through the Nigerian market.
FG approves 830,000 tonnes of petrol import
Legit.ng earlier reported that the Federal Government has approved the importation of 830,000 metric tonnes of Premium Motor Spirit (PMS), commonly known as petrol, for the fourth quarter of 2026, as Nigeria prepares for increased fuel demand during the Christmas and New Year festivities.
The approval comes as the Dangote Petroleum Refinery reduces its petrol prices below estimated import landing costs, intensifying competition between locally refined and imported petroleum products.
Source: Legit.ng
