The landing cost of imported Premium Motor Spirit (PMS), commonly known as petrol, has dropped marginally from N849.61 to N839.97 per litre, according to data from the Major Energies Marketers Association of Nigeria (MEMAN).
Figures from the MEMAN Competency Centre show that the average landing cost of imported petrol stood at N849.61 on October 13, N847.61 on October 14, N841.54 on October 20, and N839.97 per litre on October 21.
However, despite the gradual decline, depot owners have yet to adjust their gantry prices, while filling stations across the country continue to sell petrol at N915 per litre and above as of Thursday.
According to MEMAN, the current landing cost is about N37 cheaper than the Dangote Refinery’s gantry price, which has been pegged at N877 per litre.
Reports indicate that Dangote Refinery recently increased its gantry prices from N820 to N877 per litre without prior notice — a move that surprised many Nigerians who had expected the company to reduce pump prices to around N841 per litre, as earlier promised during the launch of its compressed natural gas (CNG)-powered trucks on September 15.
Industry analysts say the persisting gap between landing costs and retail prices underscores ongoing market inefficiencies, logistics challenges, and foreign exchange pressures affecting fuel pricing in Nigeria.
