Petrol Landing Cost Climbs to N1,348.19 Per Litre as MEMAN Releases New Data

Nigeria's spot petrol landing cost has risen to N1,348.19 per litre at the ASPM jetty in Apapa, pushing above the 30-day average of N1,329.82 per litre. The increase, captured in the Major Energies Marketers Association of Nigeria (MEMAN) Energy Bulletin dated Monday, October 12, 2026, comes amid renewed concerns about global oil supply disruptions.

At the NPSC-NOJ jetty, the spot landing cost stood at N1,347.10 per litre, also above its monthly average. MEMAN put the seven-day average estimated import parity price for petrol at N1,300.94 per litre. That leaves the ASPM spot price N47.25 higher than the seven-day average and N18.37 above the 30-day average.

What Is Driving the Numbers

The rise follows renewed military strikes that have heightened geopolitical uncertainty and raised fears of possible disruptions to crude oil supplies. Import parity pricing estimates what it costs to bring petroleum products into Nigeria based on international product prices, exchange rates, freight and other import-related expenses. It is a benchmark for import replacement costs, not the price motorists pay at filling stations.

Other cost inputs moved alongside crude. MEMAN listed Brent crude's seven-day average at $102.71 per barrel, West Texas Intermediate at $90.76 per barrel, and Bonny Light, Nigeria's flagship grade, at $131.30 per barrel. The seven-day average exchange rate was N1,331.40 per dollar, underlining how currency movements feed into the cost of imported petroleum products.

Dangote and Depot Prices

Dangote Refinery's petrol price was listed at N1,305 per litre for coastal sales and N1,325 per litre at the gantry. Ex-depot prices in Lagos ranged from N1,327 to N1,350 per litre on October 12. In Calabar, marketers offered petrol at between N1,348 and N1,370 per litre, while Port Harcourt prices ranged from N1,345 to N1,355 per litre.

Shipping costs, insurance premiums and foreign exchange rates all shape these figures, according to Petroleumprice.ng.

Pump Prices May Not Move Yet

A higher landing cost does not automatically translate into an immediate increase in pump prices. NNPC Limited has cut petrol prices at its Abuja filling stations to N1,370 per litre, reversing a weekend increase that had pushed the price to N1,405. A market survey on Monday, October 12, showed NNPCL outlets in Berger, Wuse Zone 6 and Wuse Zone 4 had reduced prices by N35 per litre.

In Lagos, NNPCL stations were selling petrol at N1,360 per litre, N10 below the Abuja price.

What It Means

The gap between landing costs and retail prices points to pressure marketers will eventually pass on if crude and the naira do not stabilise. For now, the NNPC price cut offers short-term relief at the pump, but the underlying import cost trend remains upward.