Petrol Landing Cost Drops to ₦1,283.81, Pump Prices Still High

The landing cost of imported Premium Motor Spirit (PMS), commonly known as petrol, has fallen slightly to ₦1,283.81 per litre from ₦1,292.88, according to the latest energy bulletin released by the Major Energies Marketers Association of Nigeria (MEMAN).

Despite the decline, pump prices remain elevated nationwide, with motorists in Lagos and Abuja paying between ₦1,370 and ₦1,429 per litre at filling stations.

The report noted that the current landing cost is about ₦66 lower than Dangote Refinery’s gantry price of ₦1,350 per litre, and between ₦64 and ₦74 below depot prices quoted at ₦1,348–₦1,358.

The difference between landing costs and retail pump prices reflects additional expenses across the supply chain, including transportation, storage, and retail margins.Meanwhile, Brent crude rose marginally to $108.90 per barrel, up from $108.80.

The development comes amid the Federal Government’s proposed 30-day petrol discount initiative at NNPC Limited filling stations, which would peg prices at ₦1,350 per litre. However, the plan has yet to be implemented.

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