Nigerians could soon see some relief at the pumps as the cost of importing petrol into the country has fallen sharply below the ex-gantry rates charged by domestic refiners, including Dangote Refinery.
The latest development represents the second occasion in June that imported petroleum products have undercut locally refined fuel prices. Market observers say the trend has been largely influenced by a recent drop in international crude oil prices.
According to industry experts, the decline in prices is linked to reduced geopolitical uncertainty following a fragile ceasefire arrangement between the United States and Iran.
The easing of tensions has helped calm concerns over potential disruptions in the Strait of Hormuz, a critical global oil transit corridor. As fears of supply interruptions diminished, crude oil prices retreated on the international market.
Petrol now N133 cheaper than Dangote price
Data contained in the latest bulletin issued by the Major Energy Marketers Association of Nigeria (MEMAN) on Friday, June 19, 2026, showed that the landing cost of Premium Motor Spirit (PMS), better known as petrol, dropped to N1,041.52 per litre.
The figure is N133.48 lower than the N1,175 per litre ex-gantry rate currently offered by Dangote Refinery, further expanding the price difference between imported fuel and locally refined products.
The bulletin also indicated that diesel recorded a landing cost of N1,293.19 per litre, significantly lower than Dangote Refinery’s current price of N1,500 per litre.
Aviation fuel was estimated to have landed at N1,257 per litre, while liquefied petroleum gas (LPG), commonly referred to as cooking gas, posted a landing cost of N925,000 per metric tonne.
MEMAN further stated that an exchange rate of N1,362.13 to the dollar was applied in calculating the importation costs.
Pressure mounts on local refineries
The growing disparity between import costs and local refinery prices is increasing pressure on Dangote Refinery and other domestic refining operators to review their pricing structures and implement reductions that reflect the decline in global crude oil prices.
Stakeholders across the industry maintain that consumers in Nigeria should be able to benefit from the current market conditions, particularly as many households and businesses continue to face the burden of rising living expenses and persistent inflationary challenges.
