Petrol landing cost drops to ₦971 per litre, pump price remains high

Petrol landing cost drops to ₦971 per litre, pump price remains high …C0NTINUE READING HERE >>>

The landing cost of Premium Motor Spirit (PMS), commonly known as petrol, in Nigeria has dropped to ₦971 per litre for November 2024.

This reflects a notable 20.23% decrease from ₦1,219 per litre in August, according to data from the Major Energies Marketers Association of Nigeria. This decline is due to changes in both the Naira-to-dollar exchange rate and the global crude oil price.

As of the latest trading day, the Naira was at ₦1,678.87 per dollar, and Brent crude oil was…

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