“Full List: Marketers Protest against Diesel Price Hike at Port Harcourt Refinery, Demand Reversal

• The Independent Petroleum Marketers Association of Nigeria (IPMAN) has kicked against a sudden hike in diesel prices at the PH refinery
• The marketers disclosed that the NNPC had refused to sell fuel to them at N980 per litre, which they had prepaid for
• They also said that that the national oil company raised the diesel price from N980 per litre to N1,130 after they had booked the product

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

Petroleum marketers on Tuesday, June 24, 2025, protested against what they called a continuous hike in diesel prices at the Port Harcourt Refinery.

The marketers, under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN), suspended operations and demanded that the Nigerian National Petroleum Company Limited (NNPC) reverse the latest price increase.

Marketers demand price reversal

According to reports, depot officials increased diesel prices to N1,130 per litre, from N980 on existing loading tickets.

The marketers disclosed that they had paid for those tickets and that they remained trapped in the NNPC and its partner system.

They insisted that the NNPC must honour the N980 per litre rate as they cannot keep absorbing the cost of sudden changes.

The IPMAN Port Harcourt branch chairman and NNPC’s lead sales supervisor engaged with the disgruntled marketers, asking for calm and confirming they had referred the issue to the NNPC headquarters in Abuja for intervention.

Marketers insist on booked rates

However, the marketers vowed to maintain their position until the state oil company releases their diesel allocations and volumes at the agreed rate.

Petroleumpriceng reported that the protesters disrupted depot operations, raising fresh concerns about potential fuel supply delays if the issue is not rapidly resolved.

Experts say the development adds to the rising national discontent following the increase in petroleum product prices, caused by the naira’s depreciation and the global crude oil price crisis.

Petrol prices rise, filling stations adjust pumps

A prior report by Legit.ng disclosed that oil marketers have raised depot prices of PMS following rising demand and crude oil price spikes caused by the Middle East tension. 

As of Monday, June 23, 2025, Brent crude sold at $77.88 per barrel and WTI at $74.67, with depot owners nationwide already adjusting prices upwards.

However, new data shows that crude oil prices slumped on Tuesday, June 24, 2025, as the US announced a ceasefire between Iran and Israel. 

Depot prices nationwide

According to information from Petroleumpriceng, depot prices for petrol and diesel shot up and are set to increase further this week if the ongoing Middle East tension continues. 

As of June 20, 2025, depot prices in Lagos indicated pump price increases at N880 for petrol and N1,055 for diesel, respectively. 

According to reports, NIPCO sold its petrol at N920 and diesel at N1,100 per litre, while WOSBAB’s price was fixed at N920 for PMS and N1,050 for diesel. 

At the Warri depots, Matrix Energy sold petrol and diesel at N925 and N1,05O per litre, respectively, while petrol at A&E was sold at N920.

NNPC petrol prices in Lagos, South East, and other locations

Meanwhile, Legit.ng earlier reported that retail outlets under the Nigerian National Petroleum Company Limited (NNPC) raised their pump prices to N945 per litre in Abuja, effective Monday, June 23, 2024.

They also adjusted their petrol prices to N915 per litre in Lagos, marking a new upward price review.

The state oil firm’s price review follows a similar increase by Africa’s largest Dangote Refinery, on Friday, June 20, 2025.

Source: Legit.ng