Petrol Landing Cost Falls to N922.65 Per Litre, Offers Respite for Marketers
- Decrease Signals Improved Margins Amid Price Fluctuations
- Marketers Hope for Cheaper Imports as Global Crude Prices Decline
Oil marketers have reported a decline in the landing cost of Premium Motor Spirit (PMS), which stood at N922.65 per litre as of Friday.
This marks a reduction of N32.35 from the N955 per litre offered at the Dangote Petroleum Refinery loading gantry.
The reduction reflects adjustments in shipping costs, import duties, and exchange rates, providing marketers with better opportunities to return to fuel imports.
“The lower cost of imported petrol often incentivizes marketers, and you can’t blame dealers who import the product,” a major marketer stated anonymously.
Despite this decrease, retail petrol prices remain steep, ranging between N990 and N1,010 per litre in Abuja.
However, industry experts view this drop as a potential stabilizing factor amid exchange rate fluctuations and global market volatility.
