Marketers may turn away from imported petrol in favour of locally refined products as the cost of imported Premium Motor Spirit (petrol) rises to over N45 per litre above the price of petrol from the Dangote Petroleum Refinery, industry data have shown.
The development is likely to weaken the competitiveness of petrol imports further, buttressing calls by some marketers that the Federal Government should halt the importation of PMS because imported products are more expensive than locally refined fuel.
The latest energy bulletin of the Major Energies Marketers Association of Nigeria showed that while the Dangote refinery’s gantry price stood at N1,265 per litre, the spot import parity price was N1,310.64 per litre under the ASPM benchmark.
Under another benchmark, the spot import parity price stood at N1,309.63 per litre. The figures indicate that imported petrol was N45.64 per litre more expensive than the locally produced product under the ASPM benchmark and N44.63 higher under the NPSC-NOJ benchmark.