According to information released on Thursday by the Major Energies Marketers Association of Nigeria, or MEMAN, Premium Motor Spirit’s landing cost decreased from N1,130 in July to N981.08 per litre in September 2024.
This was revealed in the Competency Center Energy Bulletin data that MEMAN made available on Thursday.
The results indicated that throughout the evaluation period, there was a N148.92 per litre decrease in PMS landings.
The decline is ascribed to the ongoing volatility of crude oil prices on the international market, which fluctuated from August 2080 trading at $80 per barrel to about $70 and $75 in September 2024.
Nonetheless, depending on the area, Nigerians purchase gasoline for N950 to N1,100.
This follows when the Nigerian National Petroleum Company, on September 15, 2024, announced a further increase in the price of gasoline following its removal from the Dangote Refinery.
The state-owned oil company claimed to have paid N898 per litre for domestic gasoline manufactured by Dangote Refinery; the Dangote group, on the other hand, denied this and withheld the product’s pricing.
In Nigeria’s oil and gas industry, the price of gasoline has been discussed nationally as a result of the country’s high energy expenses.
The House of Representatives demanded on Thursday that Dangote Refinery disclose its fuel prices and sell to petroleum marketers directly.
In a recent interview with Bloomberg Television, Aliko Dangote, the president of the Dangote Group, demanded that the Nigerian government entirely discontinue its fuel subsidy program.
