Nigerians may soon face an increase in petrol pump prices following an increase in the landing cost of imported Premium Motor Spirit (PMS), now averaging ₦870 per litre.
According to recent data released by the Major Energies Marketers Association of Nigeria (MEMAN), the landing cost climbed to ₦872 on April 28 and slightly dropped to ₦868 on April 29. This marks a consistent upward trend from ₦859 recorded on April 23, pushing the cost above the ₦835 per litre ex-depot price announced by the Dangote Petroleum Refinery.
This development has raised concerns among fuel importers and marketers, whose profit margins are being squeezed by the widening gap between landing costs and retail prices.
Industry figures from petroleumprice.ng indicate that Dangote sold PMS at ₦840 per litre on Thursday — a price matched by Matrix and Rainoil in Lagos. However, others like Pinnacle, Mao, Sahara, and AA Rano listed prices as high as ₦889. Aiteo and Aipec offered fuel at ₦838, while First Fortune, Sigmund, Liquid Bulk, and Matrix (Warri) quoted between ₦868 and ₦875. NIPCO sold at ₦842 in Lagos.
Price disparities across the country remain largely influenced by location, with depot prices generally lower in Lagos and higher in the South-South due to logistics costs.
While the Dangote refinery ramps up production, marketers continue to import petrol to bridge supply gaps.
