The cost of importing petrol into Nigeria has declined to N1,164.06 per litre, according to the Major Energies Marketers Association of Nigeria (MEMAN).
MEMAN disclosed this in its energy price bulletin, which showed that petrol import parity stood at N1,164.06 per litre as of November 5, 2026, compared with N1,189.86 recorded the previous day.
The latest figure represents a reduction of N25.80 per litre, equivalent to a 2.17 per cent decline in the cost of importing the product.
The development comes as the gantry price of petrol at the Dangote Petroleum Refinery stood at N1,215 per litre, placing it N50.94 above the prevailing import parity price.
Gists9ja reports that the decline in petrol import costs coincided with falling international crude oil prices.
Brent crude and West Texas Intermediate (WTI) recorded declines of 2.31 per cent and 1.93 per cent, respectively, to trade at $90.43 and $85.17 per barrel.
The decline in global oil prices followed developments surrounding the de-escalation of the Iran war, which eased some pressure on the international oil market.
The reduction in crude oil prices and import parity could potentially create room for further adjustments in domestic petrol prices in the coming days, particularly as competition between local refiners and fuel importers continues.
Meanwhile, Gists9ja reports that petrol prices remain relatively high across several filling stations in Nigeria.
While Nigerian National Petroleum Company Limited (NNPCL) filling stations currently sell petrol at N1,325 per litre, other outlets dispense the product at prices ranging between N1,395 and N1,420 per litre.
The difference between import parity, local refinery pricing and retail pump prices continues to shape competition in Nigeria’s downstream petroleum market.
