The Major Energies Marketers Association of Nigeria (MEMAN) has said the landing cost of Premium Motor Spirit, also known as petrol, is now N1,117/litre as of Tuesday, July 16, 2024.
The price is far above the pump price of the product in the country, which ranges from N617/litre to N700/litre or higher.
MEMAN disclosed this during a webinar with journalists on Wednesday.
The association revealed that the landing cost of diesel was N1,157/litre, while that of aviation fuel was N1,127/litre.
Executive Secretary of MEMAN, Clement Isong, said the costs were obtained from independent energy price benchmark providers.
He said the association will release similar information regularly to keep the masses informed.
Recently, independent oil marketers accused private depot owners of hiking the ex-depot price of petrol from N630 to N720/litre.
