NNPC and MRS Adjust Fuel Prices Amid Cost Decline
The Major Energies Marketers Association of Nigeria (MEMAN) reported a decrease in petrol landing costs by N69.45 per litre, dropping from N1,384.82 on September 25 to N1,278.37 on September 28, 2026. This decline is attributed to ongoing volatility in global oil markets.
The seven-day average Brent price increased slightly from $103.19 to $103.25 per barrel, while the WTI price fell from $93.25 to $92.79 per barrel. The import-parity cost for Premium Motor Spirit (PMS) also decreased by N17.58 per litre, from N1,383.92 to N1,366.34.
Following these changes, MRS filling stations in Abuja reduced their petrol prices to N1,370 per litre from N1,395, while the Petroleum Refinery cut its gantry price to N1,325 per litre from N1,350. These adjustments reflect the new lower landing-cost benchmark, which includes various costs associated with importing petroleum products.
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