Suara Sherif
Locally refined petrol is gaining a clear price advantage over imported supplies, as new industry data shows the cost of bringing in fuel from abroad has grown significantly more expensive than fuel from Nigerian refineries.
According to the latest market bulletin from the Major Energies Marketers Association of Nigeria, the price gap is now about N45 per litre.
The association’s data puts the Dangote Petroleum Refinery’s ex-depot price at N1,265 per litre.
In contrast, the estimated landing cost for imported petrol stands at between N1,309 and N1,311 per litre, depending on the pricing benchmark used.
That means imported Premium Motor Spirit is currently N44 to N46 higher per litre than locally produced petrol. The refinery increased its gantry price by N100 last week, from N1,165 to N1,265 per litre.
Even with that adjustment, its product remains cheaper than imports.
The bulletin also listed the refinery’s coastal loading price at N1,245 per litre.
The widening margin is already shifting market dynamics.
With imported cargoes now priced at a disadvantage, more marketers are expected to turn to domestic refineries for supply.
The trend also strengthens arguments from industry operators who have urged the Federal Government to limit petrol imports on grounds of cost.
Energy analysts say the development is the clearest sign yet that domestic refining is impacting fuel economics.
Despite elevated global refined-product prices, local production is delivering a direct cost benefit.
For consumers, sustained reliance on local supply could help ease pressure on pump prices, even as crude oil prices and exchange rates remain volatile.
