Spot Petrol Import Cost Dips to ₦983.92/Litre, Beats Dangote’s Gantry Price

Premium Motor Spirit import landing cost fell to ₦983.92 per litre as of June 24, according to data from the Major Energies Marketers Association of Nigeria. This spot price is about ₦141 lower than Dangote Refinery’s gantry rate of ₦1,125 per litre, reflecting recent movements in the international market and exchange rate shifts. The 30-day average import parity price stood at ₦1,138.20 per litre, slightly above the refinery’s rate. Diesel and jet fuel import costs also eased on a spot basis, while crude oil benchmarks averaged between $69.90 and $79.64 per barrel over the week. Nigeria remains the cheapest petrol market in West Africa, with pump prices in Lagos around ₦1,208 per litre. Energy stocks were flat on the Nigerian Exchange, though some counters saw declines.

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