The landing cost of imported Premium Motor Spirit (petrol) has dropped slightly from ₦849.61 to ₦839.97 per litre, according to figures from the Major Energies Marketers Association of Nigeria (MEMAN).
Energy bulletins from MEMAN revealed that petrol landed at ₦849.61 per litre on October 13, ₦847.61 on October 14, ₦841.54 on October 20, and ₦839.97 on October 21.
Despite the decline, depot owners have yet to reduce ex-depot prices, leaving filling stations to continue selling at ₦915 and above.
The report noted that the latest landing cost is about ₦37 per litre lower than Dangote Refinery’s ex-depot price of ₦877 per litre.
Truthng recalls that Dangote recently raised its gantry price from ₦820 to ₦877 per litre without prior notice, dashing hopes that prices would fall to the ₦841 per litre earlier promised during the launch of its CNG-powered trucks.
Currently, major marketers such as Mobil sell at ₦915 per litre, while NNPC retail outlets dispense at ₦928. Dangote partners, including Heyden and MRS, maintain prices above ₦920, reflecting the impact of Dangote’s new ex-depot price.
