The landing cost of imported petrol in Nigeria has increased by ₦88 within a week, raising concerns about a possible hike in pump prices. Data from the Major Energies Marketers Association of Nigeria (MOMAN) revealed that the cost jumped from ₦797 per litre to ₦885 per litre.
This development was recorded on Wednesday and reflects ongoing changes in the deregulated fuel market.
Currently, the landing cost is ₦25 higher than the ₦860 per litre paid by consumers purchasing petrol from Dangote refinery’s partners, such as MRS.
Although Dangote’s ex-depot price remains at ₦815 per litre, this is still ₦70 lower than the latest landing cost figure.
The pump price of petrol, which dropped from around ₦1,000 per litre in January to an average of ₦860 recently, is now under pressure again.
This earlier reduction came after the Dangote refinery cut its landing costs, leading marketers to sell petrol at a loss to match the lower prices.
With the latest rise in landing costs, however, industry watchers anticipate that petrol prices could increase once more.
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