Nigerians can breathe another sigh of relief as filling stations will soon adjust pump prices again to sell fuel at lower prices.

As international oil prices experience fresh volatility in the wake of the ongoing price war, the landing cost of imported fuel has dropped again.

Checks show that after factoring in all the costs, the unit landing cost of imported fuel is down to N853 per litre, as of Tuesday April 15.

Petroleum marketers have seized the opportunity to import 156,897,000 litres of Premium Motor Spirit (PMS) within eight days.

Separate documents from the Major Energies Marketers Association of Nigeria and the Nigerian Port Authority (NPA) confirm the numbers.

Dangote resumes naira sale of fuel, diesel

After almost two weeks of selling petroleum products in dollars, the Dangote Refinery started selling in naira again.

This change immediately brought down the loading cost to N865 from almost N1,000 per litre, bringing relief to Nigerians.

As of last week, the price from the Dangote refinery was lower than that of imported fuel but that has changed.

Imported fuel cheaper than Dangote Refinery fuel

At N853 per litre, the landing cost of imported fuel is now N12 cheaper than the loading cost offered by Dangote Refinery.

This is the second price drop this week, down from N856.75 on Monday to N853 on-the-spot sales price on Tuesday.

Dealers say that this price factors in all expenses, including import duties, exchange rates, and shipping.

Marketers rush to import 156 million litres

As the price drop continues, marketers are rushing to purchase more stock. Documents from the NPA show that about 156 million litres of fuel have landed at the Tincan port in Lagos and the Calabar port in Cross River State.

On Tuesday, April 8, 2025, the first shipment of 21,000 metric tonnes of Premium Motor Spirit (PMS), assigned to Peak Shipping Agency, arrived at the KLT Phase 3A terminal at midnight, according to The PUNCH.

This was followed by the arrival of another vessel, the 20,000 metric-tonne SL Aremu, which docked at the same terminal on Wednesday, April 10, at midnight. The ship was managed by the Tiger Shipping maritime agent.

Two days later, on Saturday, April 12, a ship named Fatima Sarah, operated by Dozzy Oil and Gas, arrived at the Calabar port in Cross River State with 15,000 metric tonnes of imported petrol.

On Monday, April 14, at 3:20 PM, a vessel carrying another 20,000 metric tonnes of fuel docked at the Tincan port, with Peejay Shipping designated as its handling agent.

Additionally, two vessels carrying a total of 41,000 metric tonnes of fuel are set to dock at the KLT Phase 2 terminal at midnight on Tuesday, April 15, and Wednesday, April 16.

Combined, 117,000 metric tonnes of fuel will have entered Nigeria within eight days, converting to about 156.9 million litres.

Petrol marketers predict more price drops

In related news, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) says Nigerians will see more price drops in petroleum products.

They noted that this is part of the benefits of falling global crude oil prices, and the Dangote Refinery’s decision to slash ex-depot price to N865 per litre.

The retailers predicted that prices will come down more soon, and it will become a competition of who offers best price to Nigerians.