A litre of imported Petrol or fuel now costs ₦88 more to land than it did a week ago, according to data released by the
Major Energies Marketers Association of Nigeria (MOMAN) on Wednesday. Last week, it was ₦797 per litre; this
week, it is ₦885 per litre.
In its daily energy report published on Wednesday, the organisation acknowledged the increase in the landing cost,
stating that price adjustments are unavoidable in a market that is deregulated.
The price increased to ₦885 per litre this week from ₦797 per litre the previous week. Each litre of gasoline imported
into the nation now costs N88 more.
Compared to the 860 end users who pay for Dangote petrol from MRS and other partners, the new landing cost is 25 more.
Similarly, the ex-depot price of gasoline at the Dangote refinery is ₦815 per litre, which is ₦70 less than the current
landing cost.
You may also like: Fuel Supply: Dangote Refinery and Petroleum Marketers to Discuss New Petrol Price
Due to price reductions by the Dangote refinery, the average price of gasoline at the pump dropped to ₦860 a litre in
recent weeks from roughly ₦1,000 in January.
The refinery was forced to lower its price after the landing cost dropped from almost N927 below Dangote’s ex-depot price.
Because they were forced to sell petrol below their costs, marketers lost billions of naira as a result of the occurrence.
However, because of the dispute between the Nigerian National Petroleum Company Limited and the Dangote refinery
regarding the naira-for-crude arrangement and the increase in landing costs, the market anticipates a spike in petrol
prices in the upcoming weeks.
