Petrol landing cost drops to N1,283 per litre as depot prices remain high

Nigeria’s petrol landing cost fell from N1,292.88 to N1,283.81 per litre, according to a Monday bulletin from the Major Energies Marketers Association of Nigeria. At the time of the report, Brent stood at $110.70 a barrel and West Texas Intermediate at $99.90. Dangote Refinery’s gantry price was N1,350 per litre, while depot prices ranged from N1,348 to N1,358; motorists in Abuja and surrounding areas paid N1,370 to N1,429. A proposed 30-day N1,350-per-litre discount at NNPCL stations, announced by Finance Minister Taiwo Oyedele on October 8, had not yet been implemented.