Why Are PMS Prices Still at ₦1,350 Despite Falling Brent Crude?

Brent crude has been trading lower for almost a week, yet Dangote and other importers still charge ₦1,350 per litre of PMS. This gap raises questions about profiteering and weak regulatory oversight. Global benchmarks—Brent, WTI, and Dubai/Oman crude—have all dropped by about $1–3 on recent diplomatic news. Brent sits around $77.80, WTI at $73.15, and Dubai/Oman near $75.50. Normally, importers should pass on these savings to consumers. Many Nigerians suspect corruption and exploitation of institutional weaknesses. Critics argue that those calling detractors “enemies of progress” are the real foes of Nigeria’s economic well-being.

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