• Latest
  • Trending
  • All
Petrol Prices May Drop to ₦800/Litre as Landing Cost Falls to ₦774

Petrol Prices May Drop to ₦800/Litre as Landing Cost Falls to ₦774

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud

Daura v U.B.N PLC: Landmark Supreme Court Decision on ‘Estate and Debt’ Responsibilities after Death

Daura v U.B.N PLC: Landmark Supreme Court Decision on ‘Estate and Debt’ Responsibilities after Death

PROHIBITION OF RIBĀ (INTEREST-BASED TRANSACTIONS) IN ISLAMIC FINANCE: CONCEPT AND SIGNIFICANCE

PROHIBITION OF RIBĀ (INTEREST-BASED TRANSACTIONS) IN ISLAMIC FINANCE: CONCEPT AND SIGNIFICANCE

Hajj 2025: Saudi Arabia deports Sheikh Gumi back to Nigeria

Hajj 2025: Saudi Arabia deports Sheikh Gumi back to Nigeria

JUST IN: Wike seals PDP National Secretariat in Abuja

JUST IN: Wike seals PDP National Secretariat in Abuja

JAMB Announces Date to release UTME Result for resit Candidates

99% Scores Below 200 in Resit UTME – JAMB

2023: Yoruba Elders Decide On Tinubu’s Presidency Ambition

Breaking: APC Governors endorse Tinubu as 2027 Sole Presidential Candidate

Peter Obi attends Pope’s inauguration in Rome to beg Tinubu over Fidelity Bank’s N225bn Debt Crisis – Report

Peter Obi debunk meeting Tinubu in Rome over alleged N225bn Fidelity Bank debt

FULL LIST: Dangote Refinery slashes Petrol Prices across Nigeria

FULL LIST: Dangote Refinery slashes Petrol Prices across Nigeria

Court stops Senate disciplinary action against Natasha Akpoti

Akpabio, Yahaya Bello to testify as Nigerian Govt files Criminal Charges Against Natasha

Canada, France, UK Impose Sanctions on Israel over Gaza war

Canada, France, UK Impose Sanctions on Israel over Gaza war

Peter Obi attends Pope’s inauguration in Rome to beg Tinubu over Fidelity Bank’s N225bn Debt Crisis – Report

Peter Obi attends Pope’s inauguration in Rome to beg Tinubu over Fidelity Bank’s N225bn Debt Crisis – Report

  • About Us
  • Advertise with Us
  • Editorial Policy
Sunday, June 1, 2025
  • Login
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus
No Result
View All Result
iDeemlawful
No Result
View All Result
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Commentary
  • Editorial
  • Campus
Home Breaking News

Petrol Prices May Drop to ₦800/Litre as Landing Cost Falls to ₦774

by Aishat Ashim
March 13, 2025
A A
Petrol Prices May Drop to ₦800/Litre as Landing Cost Falls to ₦774
FacebookTwitterWhatsapp

The price of Premium Motor Spirit (PMS) in Nigeria could soon decrease to ₦800 per litre as the landing cost of imported fuel has dropped to ₦774.82 per litre. This makes it lower than Dangote Refinery’s ex-depot price of ₦825 per litre, according to the latest report from the Major Energy Marketers Association of Nigeria (MEMAN).

Data from MEMAN shows that the estimated import parity cost of petrol has fallen by ₦152.56 (16.5%) from ₦927.48 per litre recorded on February 21, 2025. This decline is attributed to the persistent drop in global crude oil prices.

As of March 12, 2025, Brent Crude was priced at $70 per barrel, while US WTI traded at $66.70 per barrel, down from February prices of $76 and $69, respectively. The falling crude oil prices have led to lower import costs, which could drive fuel prices down further to approximately ₦800 per litre from the current retail range of ₦860 to ₦880 per litre in Lagos and Abuja.

RelatedPosts

FULL LIST: Dangote Refinery slashes Petrol Prices across Nigeria

JUST-IN: Dangote Refinery Reduces Petrol Price By N10

NNPCL increases Petrol Price

Petrol Stations hike price amid Dangote, NNPCL dispute

At the beginning of March, the Nigerian National Petroleum Company (NNPC) and Dangote Refinery reduced their retail fuel prices to ₦860 and ₦880 per litre. The latest drop in import landing costs is expected to intensify competition between Dangote Refinery, NNPC, and independent fuel importers.

Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), stated that a continued decline in crude oil prices could further push petrol prices down to ₦800 per litre.

Last Monday, NNPC cut its retail fuel prices from ₦945–₦965 per litre to ₦860–₦880 per litre in Lagos and Abuja, following Dangote Refinery’s earlier reduction of its ex-depot petrol price from ₦890 to ₦825 per litre—the third price cut in two months.

Billy Gillis-Harry, President of the Petroleum Retailers Outlets Owners Association of Nigeria, has urged the Minister of State for Petroleum, Heineken Lokpobiri, to implement a petrol price stability framework to prevent financial losses for retailers and marketers. He also advocated for multiple fuel supply sources to foster competition and ensure that domestic fuel prices remain aligned with global import costs.

Despite Dangote Refinery’s local fuel production, many retailers and marketers continue to rely on imports due to concerns about pricing, market competition, and domestic refining capacity. Meanwhile, the National Bureau of Statistics reported that petrol imports surged by 105% in 2024, reaching ₦15.4 trillion, reflecting Nigeria’s heavy reliance on imported fuel.

Tags: Dangote RefineryPetrolPetrol prices
Previous Post

How Police Uncovers Shallow Grave of Murdered LASU Student after arresting Four

Next Post

Tinubu Meets Lagos State House of Assembly Amid Leadership Crisis

Aishat Ashim

Aishat Ashim

Related Posts

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud
Breaking News

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud

JAMB Announces Date to release UTME Result for resit Candidates
Breaking News

99% Scores Below 200 in Resit UTME – JAMB

Peter Obi attends Pope’s inauguration in Rome to beg Tinubu over Fidelity Bank’s N225bn Debt Crisis – Report
Breaking News

Peter Obi debunk meeting Tinubu in Rome over alleged N225bn Fidelity Bank debt

JAMB Announces Date to release UTME Result for resit Candidates
Breaking News

JAMB Announces Date to release UTME Result for resit Candidates

Hoodlums attacked Pasuma in Osun, sparking tensions
Breaking News

Hoodlums attacked Pasuma in Osun, sparking tensions

ASUU To Sue JAMB Over UTME Mass Failure
Breaking News

ASUU To Sue JAMB Over UTME Mass Failure

JUST IN: JAMB admits mistake, 173,387 candidates to retake UTME
Breaking News

JUST IN: JAMB admits mistake, 173,387 candidates to retake UTME

Nigerian Army confirms Boko Haram’s use of ‘Armed Drones’ in Borno, similar to Israeli and Ukrainian types
Breaking News

Nigerian Army confirms Boko Haram’s use of ‘Armed Drones’ in Borno, similar to Israeli and Ukrainian types

Lagos-Opebi-Mende road project to be completed soon – Julius Berger
Breaking News

Lagos-Opebi-Mende road project to be completed soon – Julius Berger

Man arrested for Raping a 12-year-old girl in Lagos
Breaking News

Suspect in Anambra lawmaker’s murder Re-arrested

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

iDeemlawful

Copyright © 2019–2025 Deemlawful Media

  • About Us
  • Advertise with Us
  • Editorial Policy

Connect With Us

No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus

Copyright © 2019–2025 Deemlawful Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In