The landing cost of premium motor spirit (PMS) has fallen to N774.82 per litre, making it cheaper than Dangote Refinery’s ex-depot price of N825 per litre. According to the latest Competency Centre Daily Energy Data from the Major Energies Marketers Association of Nigeria (MEMAN) released on Tuesday, estimated import parity into tanks has dropped by 16.5% (N152.56), down from N927.48 per litre recorded on February 21, 2025. This decline follows a continued drop in global oil prices. Brent Crude fell to $70 per barrel, while US WTI dropped to $66.70 as of Wednesday, March 12, 2025, compared to $76 and $69 in February. The lower crude prices have driven fuel import costs down to N774.82 per litre, raising the possibility of retail prices falling further to around N800 per litre—down from the current N860 and N880 per litre in Lagos and Abuja. Earlier in March and February, the Nigerian National Petroleum Company Limited (NNPC) and Dangote Refinery had reduced their retail petrol prices to N860 and N880 per litre in these cities. The latest drop in landing costs is expected to intensify the price war between Dangote Refinery, NNPC, and fuel importers.