The Major Energies Marketers Association of Nigeria (MEMAN) has revealed the latest changes in Premium Motor Spirit (PMS) also known as petrol prices across depots nationwide.
In its latest bulletin, MEMAN revealed that Nigeria’s estimated petrol import cost climbed above N1,380 per litre at the start of April from about N971 per litre recorded at the end of March.
It noted that the new price follows rise in brent crude which traded around $108 per barrel, while West Texas Intermediate (WTI) hovered near $100, supporting higher refined product prices across international markets.
Nigeria’s Bonny Light crude was also quoted above $100 per barrel.
According to the report, ex-depot prices in Lagos for PMS in April opens at N1,218.50 per litre, compared with about N1,215–N1,300 per litre on March 31. In Warri, PMS ex-depot prices were about N1,250 per litre, compared with a March 31 range of N1,215–N1,300 per litre.
In Calabar and Port Harcourt, PMS ranged around N1,235 to N1,335 per litre, similar to March 31 levels of N1,235–N1,300 per litre.
PMS import parity estimates ranged between N1,700 and N2,300 per litre, up from March 31 averages of N971.50 per litre and spot levels near N1,177 per litre. AGO import parity rose from N1,437.31 per litre on March 31 to N1,501.88 per litre, while ATK increased from N1,536.86 per litre to N1,715.96 per litre.
These estimates incorporate factors such as Platts benchmarks, freight charges, insurance, landing costs, and prevailing exchange rates.
Snapshot of ex-depot prices
Lagos PMS (Petrol): N1,218.50 – N1,300.00 per litre
Lagos AGO (Diesel): N1,780.00 – N1,955.00 per litre
Lagos CNG (Vehicles): N300.00 – N500.00 per scm
Warri PMS (Petrol): N1,250.00 – N1,300.00 per litre
Warri AGO (Diesel): N1,800.00 – N1,850.00 per litre
Calabar PMS (Petrol): N1,235.00 – N1,300.00 per litre
Port Harcourt PMS (Petrol): N1,235.00 – N1,300.00 per litre
Port Harcourt AGO (Diesel): N1,350.00 – N1,850.00 per litre
