Good News as Dangote Slashes Petrol Price, Sells Lower Than Other Marketers
- Dangote Refinery reduced its petrol depot price to N1,290 per litre, making it the cheapest supplier among the depots reviewed in Lagos
- Pinnacle and Rainoil also cut their prices by N20 to N1,300 per litre, while MRS and NIPCO sell at N1,310
- Petrol depot prices declined in Lagos, Port Harcourt and Calabar, with the highest listed rate standing at N1,335 per litre
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Dangote Refinery has reduced its petrol price to N1,290 per litre, selling below other major depot operators in Lagos as fuel marketers adjust their rates.
The latest depot price data for Thursday, October 29, 2026, showed that Dangote's price dropped by N18 from N1,308 per litre.
Source: Getty Images
The reduction makes Dangote the cheapest petrol supplier among the Lagos depots reviewed, ahead of Pinnacle and Rainoil, which sell at N1,300 per litre.
Petroluemprice.ng revealed that MRS and NIPCO currently sell petrol at N1,310 per litre, while African Terminal reduced its price to N1,307.
Depot prices represent the rates at which suppliers sell petrol to marketers and may differ from pump prices at filling stations due to transportation costs and retailers' operating margins.
Current petrol depot prices in Lagos
The latest prices show that Dangote Refinery has the lowest rate among the listed depots.
Depot | Previous price | Current price | Difference |
Dangote | N1,308 | N1,290 | -N18 |
Pinnacle | N1,320 | N1,300 | -N20 |
Rainoil | N1,320 | N1,300 | -N20 |
African Terminal | N1,319 | N1,307 | -N12 |
MRS | N1,324 | N1,310 | -N14 |
NIPCO | N1,320 | N1,310 | -N10 |
Aiteo | N1,317 | N1,317 | 0 |
Petrol prices in Port Harcourt
In Port Harcourt, Bulk Strategic and Masters reduced their petrol prices by N8 each to N1,325 per litre.
Matrix lowered its rate by N7 from N1,335 to N1,328 per litre, while T.S.L listed its current price at N1,325.
Depot | Previous price | Current price | Difference |
Bulk Strategic | N1,333 | N1,325 | -N8 |
Masters | N1,333 | N1,325 | -N8 |
Matrix | N1,335 | N1,328 | -N7 |
T.S.L | N1,325 | N1,325 | 0 |
Source: UGC
In Calabar, Matrix reduced its petrol price by N6 to N1,332 per litre, while Northwest cut its rate by N5 to N1,335.
Soroman listed its current price at N1,330 per litre.
Depot | Previous price | Current price | Difference |
Matrix | N1,338 | N1,332 | -N6 |
Northwest | N1,340 | N1,335 | -N5 |
Soroman | N1,330 | N1,330 | O |
The figures show that Dangote Refinery offered the lowest listed petrol price across the three locations at N1,290 per litre, while Northwest in Calabar had the highest rate at N1,335.
Diesel price changes
Earlier, Legit.ng reported that Depot owners in Lagos have cut diesel prices below Dangote Petroleum Refinery’s new gantry rate of N1,840 per litre, less than 24 hours after the refinery announced a price increase.
The latest adjustments highlight intensifying competition among suppliers in Nigeria’s downstream petroleum market, with several depots offering Automotive Gas Oil (AGO), commonly known as diesel, at lower rates than the refinery.
Duport, Ibachem and Ibeto priced diesel at N1,825 per litre.
Source: Legit.ng
