The landing cost of imported Premium Motor Spirit (petrol) has dropped to ₦922.65 per litre, a ₦32.35 reduction from the ₦955 per litre offered at the Dangote Petroleum Refinery’s loading gantry.
The price shift has reignited interest among marketers in importing petrol, offering a more profitable alternative to Dangote’s refined products, which remain priced higher.
Industry stakeholders noted that while Dangote Refinery previously offered competitive pricing, the decline in imported petrol costs is now an attractive incentive for marketers seeking better margins.
Recent data shows that oil marketers imported 76.84 million litres of petrol within two days, indicating a growing reliance on foreign products despite earlier efforts to encourage local refining.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had initially advocated a 180-day suspension on fuel imports to give Dangote Refinery a chance to prove its capacity.
However, marketers argue that there was no binding agreement, and they are now focusing on sourcing cheaper alternatives to meet demand and stay competitive.
“The lower cost of imported petrol is often an incentive to dealers and you won’t blame marketers who import the product,” a major marketer told Punch.
As import costs drop, consumers may anticipate potential price adjustments, even as depot prices remain high across major locations, ranging from ₦950 to ₦990 per litre.
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