Brent crude oil prices have fallen from $73.67 per barrel to $72.45, contributing to a decrease in the landing cost of imported petrol.
As a result, average ex-depot prices for petrol have slightly reduced in major cities like Lagos, Calabar, and Port Harcourt.
Major marketers reported that the landing cost of diesel has decreased from N1,089 to N1,068 per litre, while aviation fuel dropped from N1,117 to N1,079 per litre.
The difference between imported petrol and Dangote’s locally produced fuel is now less than N46, based on the Nigerian National Petroleum Company’s purchase price.
This shift comes after the NNPC recently increased petrol pump prices on the same day Dangote refinery launched its locally produced petrol. The changes reflect ongoing fluctuations in global oil markets and their direct impact on local fuel pricing in Nigeria.
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