Petrol Landing Cost Drops to N1,283 as Depot and Retail Rates Remain Elevated

The landing cost of imported Premium Motor Spirit (PMS), commonly known as petrol, has dropped to N1,283.81 per litre, according to a market bulletin released by the Major Energies Marketers Association of Nigeria (MEMAN) and reported by Daily Post Nigeria. This marks a decrease from a previous benchmark of N1,292.88 per litre, even as wholesale and consumer prices across the country remain elevated.

Global Benchmarks and Domestic Wholesale Rates

Data from the MEMAN bulletin indicated that global crude benchmarks stood at $110.70 per barrel for Brent and $99.90 for West Texas Intermediate at the time the figures were recorded. However, the modest easing in imported landing costs has not led to an immediate reduction in wholesale prices within Nigeria.

As reported by Daily Post, domestic ex-depot charges from independent terminal owners ranged between N1,348 and N1,358 per litre. Meanwhile, the gantry price at the Dangote Refinery was recorded at N1,350 per litre. Because ex-depot and refinery rates remain well above the current landing calculation, fuel marketers continue to face high procurement expenses before accounting for transport, logistics, and retail margins.

Retail Market Realities and Pending Discount Measures

The persistence of high procurement rates is reflected directly at filling stations. Motorists in Abuja and nearby areas are currently purchasing petrol at prices ranging from N1,370 to N1,429 per litre, according to Daily Post’s market tracking.

This retail pricing environment follows a policy recommendation introduced earlier in the month. On October 8, 2026, Minister of Finance Taiwo Oyedele proposed a temporary 30-day fuel discount plan intended to make fuel available at N1,350 per litre through retail outlets operated by the Nigerian National Petroleum Company Limited (NNPCL). However, Daily Post reported that this proposed discount mechanism had not yet been implemented at NNPCL stations at the time of publication.

Understanding the Price Gap

The gap between import landing benchmarks and retail pump rates highlights the complex interplay of factors governing Nigeria’s fuel supply chain. While landing figures offer a baseline for import parity, local distribution costs, depot pricing strategies, and supply agreements heavily influence the ultimate rate paid by motorists. Until depot prices shift downward or proposed intervention measures are actively deployed at the pump, consumers are unlikely to see the immediate benefits of declining import costs.

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p class=”vbna-source-note”>Source: Daily Post Nigeria

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