Petrol prices hold steady at N1,275 per litre as global crude surges past $108

Petrol gantry prices remained stable around N1,275 per litre this week, even as import parity estimates climbed sharply. Data from the Major Energies Marketers Association of Nigeria (MEMAN) showed the average gantry price held at N1,275, up from N1,195.02 previously.

Import parity estimates for petrol rose to between N1,362 and N1,361 per litre at the ASPM and NPSC jetties, putting pressure on landing costs. Dangote Refinery’s gantry price sits at N1,275 per litre, while coastal supply estimates are near N1,215, indicating a discount at the upper end of import parity.

Diesel prices strengthened to about N1,750 per litre on a spot basis at the jetties. Dangote’s diesel gantry price is close to N1,800 per litre. Coastal supply levels are significantly lower at nearly N1,443 per litre, revealing large markups between different logistics and delivery points.

Aviation fuel showed mixed movement. Import parity spot values hover near N1,679 per litre, while Dangote’s gantry price is around N1,650. Jet fuel pricing is near parity, with slight deviations on both sides based on supply chain and financing assumptions.

These shifts reflect the current global crude oil markets, which surged above $108 per barrel. The higher crude price is feeding into refined product costs across the downstream sector.

Below are current domestic gantry prices for refined products:

PMS: N1,275 per litre
AGO: N1,800 per litre
ATK: N1,650 per litre

Depot-level petrol prices on May 20, 2026, from Petroleumprice.ng show African Terminal at N1,277, Aiteo at N1,277, Ardova at N1,278, Ascon at N1,278, Bono at N1,277, and Dangote at N1,278. Other depots like Duport, Emadeb, Menj, and Swift are selling petrol at N1,802 to N1,805.

In Port Harcourt, Aradel sells at N1,835, Bulk Strategic at N1,306, Matrix at N1,845, and Sigmund at N1,850. Calabar depots Fynfield and Northwest both list at N1,295, with Sobaz at N1,300 and Soroman at N1,295. Warri depots show A.Y.M Shafa at N1,810, First Fortune at N1,813, Matrix at N1,855, and NIPCO at N1,816.

Earlier, Legit.ng reported that NNPCL retail stations cut petrol prices to N1,255 per litre from N1,330, three days after Dangote Refinery slashed its gantry price by N85 to N1,200.