Tuesday, July 1, 2025
  • About
  • Advertise
  • Careers
  • Contact
The Reflector Newspaper
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology
  • Login
No Result
View All Result
The Reflector Newspaper
Home Economy

Petrol Landing Cost Increases, Higher Than Dangote’s Price

Ifeanyi Uzoechiena by Ifeanyi Uzoechiena
May 2, 2025
in Economy, Featured
0
Furious Benue Commuters Left Stranded As Fuel Price Hits N1,500/litre
0
SHARES
9
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsAppShare on TelegramSend to Email

The landing cost of Premium Motor Spirit (petrol) has now averaged N870 per litre, reports by the Major Energies Marketers Association of Nigeria have shown.

This is even as the price offered by the Dangote Petroleum Refinery threatened the margins of fuel importers and marketers alike.

Related posts

Club World Cup: Shock As Saudi’s Al Hilal Defeats Man City

Club World Cup: Shock As Saudi’s Al Hilal Defeats Man City

July 1, 2025
Furious Benue Commuters Left Stranded As Fuel Price Hits N1,500/litre

Dangote Refinery Slashes Petrol Price From N880 To N840/litre

July 1, 2025

According to MEMAN, the landing cost of petrol was N872 per litre on April 28 and N868 as of April 29.

On April 23, the landing cost averaged N859 per litre, indicating that the cost of importing petrol has now risen above Dangote refinery’s announced ex-depot price of petrol of N835 per litre. With the landing cost rising, importers of petroleum products seem to be having challenges selling their products at profitable rates.

According to petroleumprice.ng, Dangote sold petrol at N840 on Thursday, the same price as Matrix (Lagos) and Rainoil. Pinnacle, Mao, Sahara, AA Rano sold the product at N889 while Aiteo and Aipec offered PMS fuel for N838.

First Fortune’s price was N868; Sigmund, N875; Liquid Bulk, N870; Matrix (Warri), N870; NIPCO Lagos, N842.

Newsmen observed that the prices vary based on the location. While prices are lower in Lagos depots, those buying from the South-South pay more due to logistics.

In an interview with newsmen, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, said business has been slow due to incessant price fluctuations.

He said the fluctuation led to arbitrary changes not well managed.

“Business has been very slow, with the up and down price of PMS from arbitrary changes that are not effectively managed by the market forces,” he said.

Nevertheless, the PETROAN president said he and his members were trying to provide energy access to Nigerians despite the challenges.

“Regardless of how things are, we have to do business and keep Nigeria’s economy growing. That’s our covenant with Nigeria. That’s PETROAN’s covenant,” he stated.

Gillis-Harry maintained that the government is doing its best, “and I think that we will get to the point where business will be beneficial to the consumers and those of us in the business.”

Meanwhile, the SGR filling station in the Sagamu and Mowe axis of Ogun has dropped the price of PMS to N855 per litre. With over six stations along the Sagamu-Benin and the Lagos-Ibadan Expressways, SGR is selling PMS below the rates displayed by Dangote partners.

In Ogun, MRS sells petrol at N890 per litre while Heyden sells it at N885 as of Thursday. Recall that the Dangote refinery has consistently slashed the prices of petrol since the Federal Government began the naira-for-crude deal with the facility.

Importers of petroleum, as well as PETROAN, complained that the price cuts were impacting their businesses negatively. The traders told newsmen that they were forced to sell below their costs in order not to incur too many losses.

With the temporary suspension of the naira-for-crude deal in March and Dangote’s stoppage of naira fuel sales, importers did not hesitate to raise PMS prices from N860 to N950.

However, as the Federal Government ordered that the deal should continue indefinitely, Dangote lowered petrol prices below N900 per litre.

But a report by S&P Global said the pricing of refined petroleum products at the Dangote Petroleum Refinery has been identified as one of the incentives to import fuel into Nigeria.

S&P Global said the Dangote refinery’s reduction in petroleum products’ prices was not significant compared to the global fall in prices.

It stated that the 650,000 barrels-per-day capacity refinery did not lower its gantry prices significantly, thereby incentivising fuel imports.

“Incentives to ship products to West Africa have also come from the pricing at Nigeria’s Dangote refinery. While flat prices have been driven down massively amid falling crude prices, Dangote has not lowered gantry prices for truck volumes significantly.

“Between April 1 and April 9, the Eurobob M1 swap fell from $734.25 per metric tonne to $603/MT, a 17.9 per cent fall, before recovering somewhat. But over the same period, Dangote’s truck price at the gantry dropped just 1.7 per cent from N880/litre to N865/litre (and later N835).

“This has encouraged a flood of products to West Africa, where high domestic prices have led marketers to import from international traders in greater volumes,” the report said.

 

The Punch

Tags: Petrol Price

The Reflector Newspaper's newsletters cover a variety of topics, from daily news to lifestyle content, markets info to medical news. Subscribe to get the latest information.

Unsubscribe
Previous Post

Adeleke Dismisses Defection Rumors Ahead Of 2026 Poll

Next Post

ICYMI: How Don Jazzy Gifted Woman ₦6m For Having ₦67 ‘Unhealthy’ Account Balance

Next Post
ICYMI: How Don Jazzy Gifted Woman ₦6m For Having ₦67 ‘Unhealthy’ Account Balance

ICYMI: How Don Jazzy Gifted Woman ₦6m For Having ₦67 ‘Unhealthy’ Account Balance

RECOMMENDED NEWS

Freedom After 4-Years, Court Acquits 6 #EndSARS Protesters

Freedom After 4-Years, Court Acquits 6 #EndSARS Protesters

10 months ago
Naira Hits Record Low Of N1,410/US$ At Parallel Market

Updates: Naira Slides Into One Of The 10 Weakest Currency In Africa

11 months ago
Senate Moves To Suspend Natasha For Six Months

Nigerian Senate Is Like A Cult, Natasha Akpoti Alleges

3 months ago
Nigeria’s Desired Change’ll Happen Under God, Says Kumuyi

Nigeria’s Desired Change’ll Happen Under God, Says Kumuyi

9 months ago

FOLLOW US

BROWSE BY CATEGORIES

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

BROWSE BY TOPICS

#EndBadGovernance protest 2027 Elections Akpabio Alaafin Of Oyo Alaafin Of Oyo Coronation APC Atiku Bola Tinubu Dangote Refinery Defection Economic and Financial Crimes Commission (EFCC) Economic Hardship EFCC Emergency Rule Federal Government of Nigeria Fubara Fuel Price Fuel Price Hike Gunmen INEC JAMB Natasha National Power Grid Nigeria Labour Congress (NLC) Nigerian National Petroleum Company Limited (NNPCL) Nigeria Police Force Nnamdi Kanu NNPC NNPCL Oil Marketers PDP Peter Obi Petrol Price President Ahmed Bola Tinubu Rivers Administrator Rivers Assembly Rivers Crisis Senate Sexual Harassment Tax Reform Bills Tinubu UTME VeryDarkMan WAEC Wike

POPULAR NEWS

  • Congo’s President Daughter’s Bedroom Surfaces Online

    Congo’s President Daughter’s Bedroom Surfaces Online

    0 shares
    Share 0 Tweet 0
  • Economy Bleeds As Naira Hits Record Low With N72.58 Depreiciation Against Dollar

    0 shares
    Share 0 Tweet 0
  • Old Naira Notes Remain Valid – CBN

    0 shares
    Share 0 Tweet 0
  • Gospel Actress, Flora Of Abattoir Movie Series Is Dead

    0 shares
    Share 0 Tweet 0
  • JUST IN: FCT Minister Wike Leads Eid-El-Fitr Homage To President Tinubu Amid Death Rumors

    0 shares
    Share 0 Tweet 0
The Reflector Newspaper

Our mission at The Reflector Newspaper is to cultivate a dynamic digital space where truth, integrity, and diversity thrive.

Follow us on social media:

Recent News

  • Club World Cup: Shock As Saudi’s Al Hilal Defeats Man City
  • Dangote Refinery Slashes Petrol Price From N880 To N840/litre
  • APC Releases 2025 Bye-Elections Timetable, Pegs Form At N20m
  • Those Who Think PDP Is Dead Are Dreamers – Bode George

Category

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

Recent News

Club World Cup: Shock As Saudi’s Al Hilal Defeats Man City

Club World Cup: Shock As Saudi’s Al Hilal Defeats Man City

July 1, 2025
Furious Benue Commuters Left Stranded As Fuel Price Hits N1,500/litre

Dangote Refinery Slashes Petrol Price From N880 To N840/litre

July 1, 2025
  • About
  • Advertise
  • Careers
  • Contact

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

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
  • Login
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Verified by MonsterInsights