Marketers Release New Petrol Prices as Dangote Reverses Reduction
- Petroleum marketers have disclosed new depot prices for petrol across major distribution hubs
- The new prices come on the back of a fresh price adjustment by Dangote Petroleum Refinery
- The updated template showed different ex-depot prices across locations, such as Lagos
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.
Petroleum marketers have released a new template showing depot prices for Premium Motor Spirit (PMS), also known as petrol, across several distribution hubs in Nigeria.
The data shared by the Major Energies Marketers Association of Nigeria showed that depot prices vary across key locations, including Lagos, Warri, Calabar, and Port Harcourt.
Source: Getty Images
New petrol prices in Nigeria
The pricing adjustments followed a revision by the Dangote Petroleum Refinery, which restored its petrol ex-depot price to N1,175 per litre.
Earlier, the refinery had reduced the price by N100 to N1,075 per litre on March 10, 2026, prompting depot operators to begin selling at an average of about N1,100 per litre.
However, after the refinery raised the price again, many depot owners temporarily suspended sales to adjust their prices and reconcile stock positions.
Latest petrol depot prices by location
A breakdown of the updated depot template shows the following PMS prices across major supply hubs:
- Lagos: N1,094 – N1,100 per litre
- Warri: around N1,170 per litre
- Calabar: N1,200 – N1,205 per litre
- Port Harcourt: about N1,205 – N1,222 per litre
In addition, Automotive Gas Oil (AGO), commonly known as diesel, was quoted between N1,570 and N1,750 per litre in Port Harcourt depots.
Dangote refinery explains petrol price increase
The Dangote Petroleum Refinery confirmed that the adjustment was driven by rising global crude oil prices.
According to sources at the refinery, the cost of Brent crude increased from about $91 per barrel to around $100 per barrel, affecting refining costs, Punch reports.
Source: Getty Images
Petroluemprice.ng reports that in a notice sent to customers by its Group Commercial Operations Department, the refinery said both its gantry and coastal PMS prices had been revised.
Under the new pricing template:
- Gantry price: increased from N1,075 per litre to N1,175 per litre
- Coastal price: raised from N1,378,548 per metric tonne to N1,512,648 per metric tonne
The refinery stated that the new prices would apply to all unloaded PMS allocations effective 1:00 p.m. on March 13, 2026.
The refinery said in the notice to customers:
“Please be informed that due to the current global geopolitical situation, which has further escalated, the PMS gantry and coastal price have been reviewed and updated."
NNPC new petrol price
Earleir, Legit.ng reported that the Nigerian National Petroleum Company Limited reversed its most recent petrol price increase.
The reduction followed the Dangote Petroleum Refinery's decision to slash its ex-gantry petrol price from N1,075 per litre to N1,050 per litre on Wednesday, March 11.
The N100 reduction by Dangote was the first price cut after three successive hikes that triggered changes in retail pump prices nationwide.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
