{
  "id": 19375875,
  "title": "Fresh fuel price crash looms as imported petrol drops to N1,164/litre",
  "url": "https://urgent.news/2026/11/10/fresh-fuel-price-crash-looms-as-imported-petrol-drops-to-n1-164-litre",
  "topic": "world",
  "section": "World",
  "published": "2026-11-10T17:06:02.000Z",
  "source": {
    "name": "Daily Post Nigeria",
    "slug": "daily-post-nigeria",
    "url": "https://dailypost.ng/2026/11/10/fresh-fuel-price-reduction-looms-as-imported-petrol-drops-to-n1164-litre/"
  },
  "original_language": "en",
  "account": "The cost of importing petrol into Nigeria has plummeted to N1,164.06 per litre, according to the Major Energies Marketers Association of Nigeria (MEMAN). MEMAN's energy price bulletin reveals that import parity has plummeted from N1,189.86 per litre to the lower figure as of November 5, signifying a 2.17 percent reduction. This reduction is equivalent to a N25.80 decrease in the cost of imported petrol.\n\nInterestingly, Dangote Refinery's gantry price stands at N1,215 per litre, which is higher than the current import parity price. The drop in petrol prices follows a decline in Brent and West Texas Intermediate (WTI) crude oil prices, which have each decreased by 2.31 percent and 1.93 percent respectively, to $90.43 and $85.17 per barrel. This downturn in global oil prices has been attributed to the de-escalation of the Iran war.\n\nExperts predict that the decline in crude oil prices may trigger further reductions in domestic petrol prices in the coming days. As competition intensifies between local refiners and fuel importers, this could lead to a fresh fuel price crash in Nigeria. Currently, MEMAN reports that while NNPCL, the Nigerian National Petroleum Company Limited, is selling petrol at N1,325 per litre, other outlets are charging between N1,395 and N1,420 per litre.",
  "summary": "The cost of importing petrol into Nigeria has dropped to N1,164.06 per litre, according to the Major Energies Marketers Association of Nigeria, MEMAN. According to MEMAN's energy price bulletin, import parity stood at N1,164.06 per litre as of November 5, down from N1,189.86 per litre recorded the previous day. This means that the cost of […] Fresh fuel price crash looms as imported petrol drops…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}