ABUJA, Nigeria (VOICE OF NAIJA)-Imported premium motor spirit is N77 cheaper than Dangote Refinery’s petrol, according to the latest figures from the Major Energies Marketers Association of Nigeria.
MEMAN data on Friday showed that the landing cost of petrol averaged N721.80 per liter.
In comparison, the Dangote Refinery petrol gantry price was N799 per liter, revealing a N77.2 per liter difference between imported fuel and Dangote Refinery.
Last week, the 650,000-barrel-per-day refinery noted that marketers could save at least N77.2 per liter by purchasing its gantry price petrol instead of relying on coastal delivery.
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Reliance on coastal delivery, particularly in Lagos, adds avoidable costs with significant effects on fuel pricing, consumer welfare, and the broader economy.
“Our assessment shows that coastal logistics can add around N75 per liter to the cost of petrol, which, if passed on to consumers, would push the pump price of PMS close to N1,000 per liter,” the statement said.
Recent checks in Abuja showed petrol prices ranged between N839 and N905 per liter at filling stations, including MRS, Nigerian National Petroleum Company Limited, Ranoil, AA Rano, AP, Mobil, Emedab, Empire Energy and others.