Diesel Prices Surge to N1,700 per Litre as Dangote Refinery, Depot Owners Adjust Rates
- Diesel depot prices have climbed to about N1,700 per litre following a price adjustment by the Dangote refinery
- Several depots in Lagos, Warri, and Port Harcourt have already adjusted their selling prices to reflect the new cost
- A temporary pause in loading activities at the refinery has further tightened diesel supply in the depot market
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Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
Depot prices of Automotive Gas Oil (diesel) have risen to about N1,700 per litre across several supply hubs in Nigeria after the Dangote Petroleum Refinery increased its ex-depot price.
Source: Getty Images
According to market data reported by Petroleumprice.ng, the refinery raised its diesel price from N1,430 to N1,500 per litre on March 14, 2026, prompting marketers and depot operators to adjust their prices upward.
Depots adjust diesel prices nationwide
Checks conducted on March 16, 2026 show that several private depots have revised their diesel prices to around N1,700 per litre, while some are selling slightly lower at about N1,650 per litre, depending on supply conditions and location.
At the Warri depot hub, AYM Shafa was reported to be selling diesel at N1,700 per litre as of Monday.
Similarly, in Lagos, depot pricing data shows that Aiteo and Obat Depot both quoted diesel at N1,700 per litre.
In Port Harcourt, Bulk Strategic Depot also raised its selling price to N1,700 per litre, reflecting the broader market adjustment.
Another supply hub in Warri reported similar pricing, with Matrix Energy Group selling diesel at the same rate, suggesting a widespread upward shift across regional distribution centres.
Rising crude oil prices drive cost pressures
Industry sources attribute the price increase partly to rising global crude oil prices, which affect refining costs.
As of Monday afternoon, Brent Crude was trading at about $101.9 per barrel, while West Texas Intermediate was priced near $94.82 per barrel.
Analysts say the higher crude prices are contributing to increased production costs for refiners, which are then passed on through the supply chain.
Temporary loading pause tightens supply
Sources familiar with operations at the Dangote Petroleum Refinery also disclosed that loading activities for marketers have been temporarily paused.
The halt is reportedly aimed at reconciling accounts and allowing buyers to adjust payments to reflect the refinery’s new price.
Market participants say the temporary suspension has tightened supply in the depot market, prompting private depot operators to quickly adjust their diesel prices in line with the refinery’s revised ex-depot rate.
Source: Getty Images
Petrol marketers announce new prices
Legit.ng earlier reported that 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.
The pricing adjustments followed a revision by the Dangote Petroleum Refinery, which restored its petrol ex-depot price to N1,175 per litre.
Source: Legit.ng
