The landing cost of imported Premium Motor Spirit (PMS), commonly referred to as petrol, has fallen sharply to N1,003 per litre, creating an even wider price difference between imported fuel and products supplied by the Dangote Refinery.
The reduction comes as international crude oil prices continue to decline amid easing geopolitical tensions in the Middle East, fueling expectations that motorists across Nigeria could soon benefit from lower prices at filling stations.
Market data also revealed that the downward trend extended beyond petrol, with diesel and liquefied petroleum gas (LPG), widely known as cooking gas, also posting price declines.
Declining crude prices reduce fuel import costs
The significant drop in the prices of petroleum products followed the reopening of the Strait of Hormuz after tensions between the United States and Iran subsided, helping to restore stability and confidence in the global oil market.
Figures published by Oilprice.com showed that major international crude oil benchmarks reached their lowest levels since March on Sunday, June 28, 2026. Brent crude traded at $72.00 per barrel, while West Texas Intermediate (WTI) stood at $70.01 per barrel.
Murban crude also recorded a decline, settling at $68.70 per barrel. As crude prices weakened, the cost of importing refined petroleum products into Nigeria also dropped, leading to lower landing costs for fuel marketers.
The latest figures underscored the continued downward movement in global energy prices after several weeks of elevated costs driven by concerns over possible supply disruptions.
Imported petrol landing cost falls to N1,003 per litre
According to the latest pricing bulletin issued by the Major Energy Marketers Association of Nigeria (MEMAN) on June 25, 2026, the landing cost of imported petrol dropped to N1,003 per litre.
The bulletin further showed that the landing cost of automotive gas oil (diesel) declined to N1,239.99 per litre, while LPG remained at N925,000 per metric tonne.
Price gap with Dangote Refinery grows wider
At the current rate, the landing cost of imported petrol is considerably lower than the N1,125 per litre ex-depot price being charged by the Dangote Refinery, even after the refinery recently reduced its price by N50 per litre.
The growing disparity has renewed calls from industry analysts and fuel marketers for the refinery to implement deeper price reductions that more closely reflect prevailing global crude oil prices.
According to many industry observers, increased competition between imported petroleum products and locally refined fuel is expected to work in consumers’ favour by encouraging lower retail pump prices.
