Dangote Refinery Crashed Petrol Prices Below Landing Cost as Marketers Lift More Fuel

• Dangote Refinery’s petrol and diesel prices are now below imported rates, prompting marketers to increase local product purchases
• Coastal shipping data shows significant volumes of petroleum products moving from Dangote Refinery to marketers across Lagos, Warri and Port Harcourt
• Some filling stations have cut petrol prices below ₦1,400 per litre, offering motorists modest relief from elevated fuel costs

Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.

Oil marketers are increasingly lifting petroleum products from the Dangote Petroleum Refinery as the cost of importing petrol and diesel remains above the refinery’s selling prices.

The widening price advantage comes as some filling stations have begun selling petrol below ₦1,400 per litre, offering motorists some relief after weeks of elevated fuel prices.

Dangote petrol cheaper than imports

The latest Energy Bulletin from the Major Energies Marketers Association of Nigeria (MEMAN) showed that Dangote’s gantry price for Premium Motor Spirit stood at ₦1,350 per litre as of September 17, 2026.

By comparison, the estimated import parity price for petrol was between ₦1,364.02 and ₦1,365.02 per litre into tanks at the NPSC/ASPM jetty in Apapa.

On Monday, September 21, 2026, the refinery further crashed its gantry price to N1,325, leaving a N40 gap.

The seven-day average import parity price was even higher at ₦1,371.92 per litre.

This means imported petrol was about ₦14 to ₦22 per litre more expensive than Dangote’s gantry price, depending on the benchmark used.

Petrol landing cost had climbed to about ₦1,420 per litre on September 14 before retreating to around ₦1,365 a few days later.

The gap was wider for Automotive Gas Oil, commonly called diesel. Dangote’s gantry price stood at ₦1,850 per litre, compared with an estimated spot landed cost of ₦1,933.56 and a seven-day average of ₦1,934.91.

Marketers lift more Dangote products

The price advantage coincides with increased movement of petroleum products through Nigeria’s coastal supply chain.

A tanker position report monitored by Petroleumprice.ng showed that about 219,000 metric tonnes of petrol, diesel, aviation fuel and other products were recorded across Lagos, Warri and Port Harcourt between September 14 and 20.

Several vessels were loaded from the Dangote refinery.

In Lagos, Um Balwa carried 20,000MT of diesel for PPMC, while Ashabi transported 15,000MT of Jet A1 and 10,000MT of diesel for Ardova and CITA.

Another vessel, SL Aremu, carried 26,500MT of aviation fuel for Sahara after loading from Dangote.

In Warri, Stellar delivered 15,000MT of diesel for Rain Oil after loading at the refinery, while additional petrol cargoes arrived from other supply sources.

In Port Harcourt, Zonda was listed as loading 20,000MT of diesel from Dangote for Pivot Energy.

The movements suggest locally refined products continue to account for a significant portion of coastal supplies, although marketers are still sourcing cargoes elsewhere.

Petrol prices fall below ₦1,400

MEMAN said its import parity calculations incorporate international product prices, freight, financing costs, port charges, statutory levies and foreign exchange rates.

Its seven-day calculations used an average exchange rate of ₦1,328.65/$, while Brent crude averaged $105.50 per barrel.

The changing economics of fuel imports could increasingly influence marketers’ decisions as they compare foreign supplies with locally refined products.

Signs of price relief are already emerging at filling stations.

Checks on Monday showed that some outlets along the Lagos-Ibadan Expressway had reduced petrol prices below ₦1,400 per litre, with motorists buying the product for about ₦1,370 to ₦1,390 per litre.

Petrol hits N1,850 in Northern states

Legit.ng earlier reported that petrol prices have climbed sharply across parts of Northern Nigeria, with motorists in some communities paying as much as N1,850 per litre, deepening concerns over transportation costs, food prices and household expenses.

The steepest price cited was in Mubi, Adamawa State, where petrol reportedly reached N1,850 per litre. In several other northern markets, prices have moved into the N1,500 to N1,700 range.