Imported petrol now cheaper than Dangote Refinery as landing cost drops to N1,191
By Aboki Forex —
Major marketers have revealed that imported petrol landed at N1,191.16 per litre as of July 27, 2026, undercutting Dangote Refinery's price of N1,215 per litre. The price gap of nearly N24 per litre has opened fresh competition in Nigeria's downstream oil sector.
Global crude swings drive the shift
The development came as international crude oil prices experienced sharp swings. On July 28, 2026, oil prices dropped by about seven per cent after reports suggested a temporary easing of hostilities between the United States and Iran. But the rebound came fast. According to Oilprice.com, Brent crude climbed 4.16 per cent to $87.59 per barrel on July 29, while West Texas Intermediate (WTI) rose 4.13 per cent to $82.53 per barrel.
The recovery followed renewed geopolitical tension. The US Central Command (CENTCOM) disclosed that Iranian forces launched multiple ballistic missiles toward US military bases across the Middle East. All missiles were intercepted without damage, but the incident renewed fears over stability in a key oil-producing region. The situation escalated further after US and Saudi forces carried out precision strikes on logistics and weapons facilities in eastern Iraq. Traders interpreted the fresh military activity as a sign that geopolitical risks remain high.
MEMAN data shows price gap
Data from the Major Energies Marketers Association of Nigeria (MEMAN) confirmed the import advantage. Imported petrol landed at N1,191.16 per litre as of July 27, compared with N1,215 per litre from the Dangote Refinery. For diesel, imported Automotive Gas Oil (AGO) landed at N1,606 per litre, while Dangote's ex-depot price stood at about N1,605 per litre. Aviation fuel recorded a landing cost of N1,614 per litre, sharply above Dangote's N1,351 per litre.
The pricing is expected to intensify competition among fuel suppliers as marketers seek to leverage cheaper import costs to gain market share. This development contrasts with recent calls by the Independent Petroleum Marketers Association of Nigeria (IPMAN), which urged the Federal Government to suspend the issuance of fuel import licences, arguing that locally refined petroleum products should be prioritised over imports.
What this means for the naira and consumers
With imported petrol now cheaper than Dangote's ex-depot price, analysts say pricing strategies across the downstream sector could come under fresh pressure in the coming weeks. Marketers will adjust to changing international oil market conditions, and consumers may see some relief at the pump if importers pass on the lower costs. However, the volatility in global crude prices means the gap could close quickly, keeping the naira and pump prices on edge.