News
Petrol landing cost drops to N1,283 per litre amid high depot prices
The landing cost of Premium Motor Spirit (PMS), which is popularly called petrol, has now reduced to N1,283.81 per litre.
This is contained in a bulletin by the Major Energies Marketers Association of Nigeria, MEMAN, issued on Monday.
The MEMAN bulletin indicated that the landing cost of petrol fell from N1,292.88 to N1,283.81 per litre while Brent and West Texas Intermediate stood at $110.7 and $99.90, respectively, at the time of reporting.
Meanwhile, Dangote Refinery’s gantry price for petrol stood at N1,350 per litre, while depot owners’ ex-depot prices ranged from N1,348 to N1,358 per litre.
This newspaper reports that Nigerians currently buy petrol at pump prices ranging from N1,370 to N1,429 per litre in Abuja and its environs.
Recall that on October 8, 2026, the Minister of Finance, Taiwo Oyedele, proposed a 30-day fuel discount at Nigerian National Petroleum Company Limited, NNPCL, filling stations, with petrol priced at N1,350 per litre.
However, as of the time of reporting, that the proposed N1,350-per-litre fuel discount has yet to be implemented at NNPCL filling stations.
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