The landing cost of Premium Motor Spirit (PMS) popularly known as petrol dropped to N981.08 per litre in September 2024, Major Energies Marketers Association of Nigeria, MEMAN has revealed.
This is down from the N1,130 recorded in July 2024.
MEMAN made this known in its Competency Centre Energy Bulletin data released on Thursday.
The data showed that the landing of PMS dropped by N148.92 per litre in the period under review.
READ ALSO:Petrol price will crash if we lift directly from Dangote refinery —Oil marketers
The drop is attributed to the persistent fluctuation of Crude oil prices at the global market to around $70 per barrel and $75 in September 2024 from $80 traded in August
This development is coming on the heels of ongoing opacity regarding the pricing of the product between the Dangote Refinery and the state oil company.
Naomisophyblog reports that Dangote Refinery and NNPCL have been embroiled in a spat regarding the price paid by NNPC Ltd for the product from the 650k barrel per day refinery.
While the state oil company claimed it bought at N898/liter, Anthony Chiejina, Group Chief Branding and Communications Officer of the conglomerate described it as misleading and mischievous’.
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