Regardless of the sharp fall in world oil costs following US President Donald Trump’s June 24 announcement of a ceasefire settlement between Israel and Iran, worth of Aviation gasoline, also called Jet A1, has surged from N900 in Might to N1,315 per litre.
LEADERSHIP checks present that crude costs have fallen to under $70/ barrel because the ceasefire announcement.
The 12-day battle had brought on oil costs to extend by round $10/barrel however they swiftly dropped again to pre-conflict ranges of round $68/barrel upon the announcement.
However, regardless of the drop in oil costs, Jet A1 costs are nonetheless on the rise in Nigeria, thereby fuelling additional hike in airfares particularly on native flights.
Additionally, the present aviation gasoline costs rely on the airport an airline is shopping for from and the variety of gallons such a provider is buying from main oil entrepreneurs.
LEADERSHIP gathered that the product costs had remained unstable because the starting of June, 2025 until date, altering about 5 occasions in lower than two weeks.
The most recent charges obtained by our correspondent, dated June 19, 2025, indicated that the product was least expensive on the Murtala Muhammed Airport at N1,227 per litre and costliest on the Margaret Ekpo Worldwide Airport (MEIA), Calabar at N1,315 per litre
Based on Jet-A1-Gasoline.com, the web site that gives jet A1 worth per barrel, per metric tonne, per gallon and per litre each day in Nigeria, Jet gasoline worth per barrel is $83.7;Jet A1 per MT (metric ton) is $661.2; per Gallon, $1.993 and per litre, $0.53.
A number of the oil advertising and marketing corporations within the trade are MRS Oil Nigeria Plc, MAT Oil and Fuel, CIT Oil and Fuel, NNP Oil and Fuel, Commonplace Oil and Fuel (STN) and AGB Oil and Fuel.
Others are Whole Oil and Fuel, OCT Oil and Fuel, NEP Oil and Fuel, 11 Plc, CLS Oil and Fuel, SOS Oil and Fuel, REE Oil and Fuel, Sahara Group, ADO Oil and Fuel and GEO Oil and Fuel, amongst others.
The doc additional confirmed that the product sells for N1,254/ltr on the Nnamdi Azikiwe Worldwide Airport (NAIA), Abuja and N1,257/ltr on the Port Harcourt Worldwide Airport (PHIA), Omegwa.
Others are Mallam Aminu Kano Worldwide Airport (MAKIA), Kano, N1,266/ltr; Akanu Ibiam Worldwide Airport (AIIA), Enugu, N1,271 per litre; Sam Mbakwe Worldwide Cargo Airport (SMICA), Owerri, N1,265 per litre; Maiduguri Worldwide Airport (MIU) and Sadiq Abubakar III Worldwide Airport, Sokoto at N1,329 per litre.
Additionally, on the Asaba Worldwide Airport (SIA), Asaba, N1,307 per litre and goes for N1,307 per litre at Anambra Worldwide Cargo Airport (AICA).
On June 4, two main oil entrepreneurs had introduced downward evaluations of the product’s costs to N992 and N1,012 at Lagos Airport and N1,005 and N1,032 for Abuja airport.
One of many corporations additionally introduced N1,085 because the product’s worth at Maiduguri airport and N1,080 at Yola airport.
Additionally, on June 11, 2025, the foremost oil corporations as soon as once more reviewed the product at varied airports.
As an example, at Lagos airport, the product was offered at N1,009; Abuja, N1,055; Kano, N1,073 and Anambra at N1,290 per litre.
Additionally, on June 12, 2025, aviation gasoline was offered at N1,000 per litre in Lagos; Abuja, N1,119; Port Harcourt, N1,122; Kano; N1,130; Enugu, N1,175; Owerri, N1,170; Maiduguri, N1,213; Sokoto, N1,193; Asaaba, N1,182, Anambra, N1,161 and Calabar airport at N1,230 per litre.
Moreover, on June 13, after the previous evaluation, the oil entrepreneurs additionally introduced new costs for the product, various at completely different airports.
On the Lagos airport, it was offered at N1,061 per litre; Abuja, N1,099; Port Harcourt, N1,088 and Kano at N1,112.
There are not any particular causes for the fluctuating costs of the product in Nigeria, however searches by our correspondent indicated that the charges of the product is basically decided by the worldwide oil costs, trade charges and native market situations regardless of refining the product within the nation.
Commenting on the worth of the product regionally, Dr. Allen Onyema, the chairman, Air Peace, mentioned that this had turn out to be a recurring difficulty within the Nigerian aviation trade.
Based on him, the worth of the product and different elements largely decide airfares.
Onyema defined that it takes between 3,500 to 4,000 litres to fill the tank of a Boeing 737 from Lagos to Abuja.
He expressed that it might value a median of N5 million to fill the tank for a lower than an hour flight.
We’ve received the sting. Get real-time experiences, breaking scoops, and unique angles delivered straight to your cellphone. Don’t accept stale information. Be part of LEADERSHIP NEWS on WhatsApp for twenty-four/7 updates →
