The landing cost of imported Premium Motor Spirit, PMS, popularly known as petrol, has dropped to N1,283.81 per litre, according to the Major Energies Marketers Association of Nigeria, MEMAN.
MEMAN disclosed this in its latest market bulletin released on Monday, showing that the landing cost declined from N1,292.88 per litre.
The bulletin also put the prices of Brent crude and West Texas Intermediate at $110.70 and $99.90 per barrel, respectively, at the time of reporting.
Meanwhile, the gantry price of petrol at the Dangote Refinery stood at N1,350 per litre, while ex-depot prices offered by depot owners ranged between N1,348 and N1,358 per litre.
Despite the decline in the landing cost of imported petrol, retail pump prices remain higher, with motorists in Abuja and neighbouring areas currently buying the product at between N1,370 and N1,429 per litre.
The latest figures come amid continued movements in global crude oil prices and domestic petrol pricing, with marketers adjusting prices in response to changes in supply costs and market conditions.
