Dangote Petrol Falls Below N1000, New Price Emerges 

The landing cost of imported Premium Motor Spirit (PMS), also known as petrol, has dropped to ₦983.92 per litre, significantly lower than the ₦1,125 per litre price reportedly offered by the Dangote Refinery.

The latest pricing development is expected to intensify competition in Nigeria’s downstream oil sector, as marketers may increasingly turn to imported products due to the lower cost advantage.

Industry data showed that the ₦983.92 per litre landing cost covers expenses including the product price, shipping, import duties, and other associated charges required to deliver petrol into the Nigerian market.

The difference of over ₦140 per litre between imported fuel and Dangote Refinery’s price has raised fresh concerns among marketers and consumers over domestic fuel pricing.

Oil marketers say the lower import cost could influence retail pump prices in the coming weeks if the trend persists in the international market and exchange rates remain relatively stable.

The development comes amid ongoing deregulation of Nigeria’s downstream petroleum sector, which allows market forces to determine fuel prices.

Stakeholders are now watching closely to see whether Dangote Refinery will adjust its ex-depot price in response to the growing competition from imported petroleum products