Cooking Gas Price Crashes Below Dangote Refinery Rates as Import Costs Drop
By Aboki Forex —
Nigerians may see lower fuel prices as the landing cost of imported petrol has fallen sharply below the ex-gantry price offered by local refiners, including Dangote Refinery. This is the second time in June that imported products have become cheaper than locally refined supplies.
The price drop is driven by falling global crude oil prices. Industry analysts say easing geopolitical tensions, including the fragile truce between the United States and Iran, have calmed fears over disruptions in the Strait of Hormuz. That has pushed crude prices lower.
According to the latest bulletin from the Major Energy Marketers Association of Nigeria (MEMAN), released on Friday, June 19, 2026, the landing cost of Premium Motor Spirit (PMS) fell to N1,041.52 per litre. That is N133.48 lower than Dangote Refinery's ex-gantry price of N1,175 per litre.
The gap is also wide for diesel. Imported diesel landed at N1,293.19 per litre, well below Dangote's N1,500 per litre. Aviation fuel landed at N1,257 per litre. Liquefied petroleum gas (LPG), or cooking gas, recorded a landing cost of N925,000 per metric tonne. MEMAN said the exchange rate used for import calculations stood at N1,362.13 to the dollar.
The widening price gap is putting pressure on Dangote Refinery and other local refiners to cut their prices. Industry stakeholders argue that Nigerian consumers should benefit from the trend, especially as households and businesses face high living costs. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged refiners to pass on savings from lower crude prices to consumers.