Fuel prices may soon decline across Nigeria as the landing cost of imported petrol has fallen below the gantry price offered by the Dangote Refinery, petroleum products marketers have said.
The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, made this known in an interview with DAILY POST on Monday, citing fresh pricing data from the Major Energies Marketers Association of Nigeria (MEMAN).
According to the data, the average cost of imported petrol is now about N77 per litre lower than the Dangote Refinery gantry price of N799 per litre. The new parity level is expected to influence supply decisions and retail pricing across the country.
Dangote Refinery had last week advised marketers to avoid coastal petrol purchases, maintaining that such products were about N75 per litre more expensive. The differing price positions have created a fresh dilemma for marketers on sourcing choices.
Amid the ongoing pricing debate, pump prices in Abuja currently range between N839 and N905 per litre at filling stations. However, checks in Lagos show that some outlets have reduced their pump price to about N817 per litre, below the N839 per litre charged at Dangote-backed MRS stations.
The emerging price gap has strengthened expectations of a possible broader drop in petrol prices nationwide if the trend persists.
