Petrol landing cost drops to N1,283/litre as depot prices remain high

The landing cost of imported Premium Motor Spirit, PMS, commonly known as petrol, has dropped to N1,283.81 per litre.

This is according to a bulletin released by the Major Energies Marketers Association of Nigeria, MEMAN, 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.

DAILY POST 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, DAILY POST can confirm, as of the time of reporting, that the proposed N1,350-per-litre fuel discount has yet to be implemented at NNPCL filling stations.

Petrol landing cost drops to N1,283/litre as depot prices remain high