Petrol landing cost crashes to N1,003, now cheaper than Dangote’s rate

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The landing cost of imported petrol has dropped sharply to N1,003 per litre. This is now below the N1,125 per litre ex-depot price from the Dangote Refinery.

Global crude oil prices have fallen. Brent crude traded at $72 per barrel on Sunday, June 28, 2026. West Texas Intermediate sold for $70.01 per barrel. Murban crude also declined to $68.70 per barrel.

The drop follows the reopening of the Strait of Hormuz after tensions between the United States and Iran eased. This restored confidence to global oil markets.

Industry data from the Major Energy Marketers Association of Nigeria (MEMAN) shows the landing cost of diesel also fell to N1,239.99 per litre. Cooking gas (LPG) stayed at N925,000 per metric tonne.

The price gap between imported fuel and Dangote Refinery supply is now widening. This has reignited calls for a substantial price cut from the refinery.

Lower fuel costs may ease inflation and provide relief for struggling Nigerians.

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