Dangote Refinery's Petrol Price Undercuts Imported Fuel by N80
The cost of importing petrol into Nigeria now exceeds the price charged by Dangote Petroleum Refinery, according to new data from the Major Energies Marketers Association of Nigeria (MEMAN). The association's latest Energy Bulletin shows that the spot landing cost of Premium Motor Spirit (PMS) reached N1,218.54 per litre as of August 13, while Dangote Refinery's gantry price stands at N1,165 per litre. This translates to a difference of N53.54 per litre, or roughly 4.6%, with Dangote's price being N80 lower than the import cost when considering the full gap.
Why Import Costs Are Climbing
Global crude prices are a key driver behind the rising import costs. MEMAN's seven-day averages recorded Brent crude at $85.45 per barrel and West Texas Intermediate (WTI) at $79.95 per barrel. Nigeria's own Bonny Light crude traded at an average of $93.86 per barrel over the same period. The naira exchange rate used in the assessment stood at N1,362.53 per dollar, adding further pressure to the cost of sourcing foreign-refined products.
These factors, as reported by Petroluemprice.ng, continue to push up what importers and depot operators must spend to bring equivalent volumes into the country.
Dangote's Price Edge Over Imports
Dangote Refinery's current PMS gantry price is N1,165 per litre, with a coastal price slightly lower at N1,145 per litre. The N53.54 gap between the import cost and the refinery's gantry price gives local supply a clear commercial edge, potentially prompting marketers and depot operators to shift sourcing decisions away from imports.
The price difference is similarly pronounced in the diesel market. MEMAN put the spot import-parity price of Automotive Gas Oil (AGO) at N1,649.52 per litre, while Dangote Refinery's AGO gantry price stands at N1,570 per litre, making locally refined diesel N79.52 cheaper per litre than the current import estimate.
Market Corroboration and Depot Prices
MEMAN's own data on depot-level pricing in Lagos corroborates the figures. Ibachem, Ibeto, T-Time, and PIVOT were all selling AGO at around N1,650 per litre, broadly matching the association's spot assessment. The Lagos ex-depot range for AGO ran between N1,625 and N1,850 per litre, while PMS ranged from N1,167 to N1,190 per litre.
Should international crude and refined-product prices remain at current levels, the cost advantage held by Dangote Refinery is likely to continue shaping how marketers source petrol and diesel in the months ahead.
NNPC's New Fuel Price
Earlier, Legit.ng reported that the Nigerian National Petroleum Company (NNPC) Limited had reduced the pump price of petrol at its filling stations in Lagos and Abuja. NNPC outlets in Lagos are now selling petrol for below N1,300 per litre. In the Federal Capital Territory (FCT), Abuja, the state-owned oil company also reduced the pump price by N15 per litre, with petrol now selling at N1,335, compared with N1,350 previously.
