Petrol Import Landing Cost Drops To N1,017/Litre Amid Falling Oil Prices

Landing cost for imported premium motor spirit (PMS) also known as petrol, fell to N1,017 per litre this month, driven mainly by a drop in global crude oil prices industry sources said.

The decline is expected to reduce pressure on downstream logistics and narrow the gap between import costs and pump prices.

The Major Energies Marketers Association of Nigeria (MEMAN), in its Energy Bulletin for 19 June 2026, said spot import parity rates for premium motor spirit (PMS) at the Apapa jetties fell to about N1,017 per litre, with NPSC‑NOJ at N1,016.61 and ASPM at N1,017.61.

The group said those rates were below the Dangote Petroleum Refinery’s gantry price of N1,175 per litre and its coastal price of N1,115 per litre.

Analysts said that the gap gives bulk importers a clear cost advantage as the parity was currently about N97 to N158 per litre cheaper than Dangote’s gantry rate.

They noted that the difference was significant because margins in the downstream market are thin and volume drives profitability.

MEMAN said recent falls in international crude and product prices pushed import parity down faster than refinery prices adjusted.

The group noted that Brent averaged $82.80 per barrel over the review week and ICE Gasoil futures eased to $929.25 per metric tonne from above $1,000 earlier in the month.

MEMAN said the 30‑day average import parity for PMS was N1,170.95 per litre, which narrows the short‑term advantage for importers and shows the current gap partly reflects recent price moves rather than a permanent change.

MEMAN said, the naira averaged N1,362.13 to the dollar over the same period. Currency swings and freight costs could quickly erase the apparent import benefit.

MEMAN also cited industry reports that marketers increased imports by about 60 per cent, partly to meet higher demand during the Sallah season.

The bulletin noted media reports that some marketers were routing product through regional hubs such as Lome, suggesting logistics and pricing arbitrage are reshaping supply flows.

On regional pricing, MEMAN said ex‑depot PMS in Lagos ranged N1,165–N1,175 per litre, while ex‑depot ranges were higher in Warri and Port Harcourt at N1,200–N1,270 per litre.

The group said AGO and ATK ex‑depot bands also showed wide regional variation, reflecting inland distribution costs.