Imported petrol is currently cheaper than Dangote Refinery’s fuel by N77.2 per litre, according to figures released by the Major Energies Marketers Association of Nigeria (MEMAN).
Imported premium motor spirit (PMS) is N77.2 cheaper than petrol produced by the Dangote Refinery, based on the latest data from MEMAN. Figures released on Friday showed that the average landing cost of imported petrol stood at N721.80 per litre, while the Dangote Refinery’s gantry price was N799 per litre, indicating a significant price gap between imported fuel and locally refined products.
The price difference comes despite recent claims by the 650,000-barrel-per-day Dangote Refinery that marketers would save at least N77.2 per litre by purchasing its petrol rather than relying on coastal delivery. In a statement issued last week, the refinery argued that coastal logistics significantly inflate fuel costs, noting: “Reliance on coastal delivery, especially within Lagos, introduces avoidable costs with material implications for fuel pricing, consumer welfare, and overall economic well-being.” It added, “Our assessment shows that coastal logistics can add around N75 per liter to the cost of petrol, which, if passed on to consumers, would push the pump price of PMS close to N1,000 per liter.”
Meanwhile, retail prices remain high across the country. Checks by DAILY POST in Abuja on Sunday showed that petrol was selling for between N839 and N905 per litre at filling stations operated by MRS, Nigerian National Petroleum Company Limited, Ranoil, AA Rano, AP, Mobil, Emedab, Empire Energy and others, underscoring the continued burden on consumers despite fluctuations in landing and gantry costs.
READ THE FULL STORY IN DAILY POST
NEWS NOW:
