Depot Owners Raise Petrol Prices as Dangote, MRS, Others Announce Fresh Hikes
- Petrol prices in Nigeria have surged by 7.53% to 8.85% amid global supply disruptions
- Depot operators have raised petrol rates to nearly N1,300 per litre following refinery adjustments
- Analysts warn that rising fuel costs may worsen inflation and strain household incomes
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Petrol prices across Nigeria are rising sharply, as depot owners and major marketers implement fresh increases following disruptions in global oil supply.
Global tensions push up fuel costs
The latest surge is linked to escalating tensions in the Middle East, particularly the Strait of Hormuz blockade, which has pushed international energy prices higher and increased the cost of fuel imports into Nigeria.
Source: UGC
Findings by Legit.ng show that depot operators have raised petrol prices by between 7.53% and 8.85%, with rates now approaching N1,300 per litre. In some cases, prices have jumped by as much as N105 per litre within a short period.
Depot prices climb close to N1,300
Key depot operators reflect the upward trend. Sahara is selling at N1,295 per litre, A.A. Rano at N1,285, Bulk Strategic at N1,193, and Parker at N1,200.
Industry data from PetroleumPriceNG indicate that the increases followed a fresh price adjustment by Dangote Refinery, which continues to play a central role in Nigeria’s fuel supply chain.
Dangote Refinery raises gantry price
On Saturday, March 21, 2026, the refinery announced an additional N70 increase in its gantry price, pushing the rate to N1,275 per litre, up from N1,245.
The ripple effect has put retailers under pressure, with pump prices now ranging from N1,400 to N1,450 per litre in several parts of the country.
Dangote-affiliated marketers have also adjusted their rates. MRS Oil Nigeria Plc, in a notice to dealers, announced a new pump price of N1,332 per litre.
The company set its delivery price at N1,290 per litre and N1,282 per litre for self-collection.
MRS issues new pricing directive
The marketer directed its retail outlets to implement the new pricing immediately, confirming that its order portal is open for fresh bookings.
It also fixed a minimum order quantity of 50,000 litres for company deliveries, with all product loading to take place at the Dangote Refinery.
Rising prices set to worsen inflation
The latest round of increases is expected to cascade across the downstream sector, pushing retail prices even higher nationwide.
Source: Getty Images
Analysts warn that the sustained rise in petrol costs could intensify inflationary pressures, strain household incomes, and further erode purchasing power as fuel prices continue to track global crude oil movements.
Petrol landing cost falls below Dangote price
Legit.ng earlier reported that a new pricing shift has emerged in Nigeria’s downstream oil sector, with the landing cost of imported petrol now significantly lower than the domestic gantry price.
Data from the Major Energies Marketers Association of Nigeria (MEMAN) shows that as of March 16, 2026, imported Premium Motor Spirit (PMS) landed at N1,080.47 per litre, while the domestic gantry price stood at N1,175 per litre.
This creates a price gap of N94.53 per litre, making imports more attractive to marketers.
Source: Legit.ng
