Markerters Release New Update on Petrol Prices in Nigeria
- Petrol prices at the gantry level remained stable around N1,275 per litre, but import parity estimates rose sharply
- Diesel prices strengthened to about N1,750 per litre spot, while aviation fuel showed mixed movement
- The prices reflect the current global crude oil markets, which surged above $108 per barrel
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.
The price of petrol and other refined products changed across depots as crude oil prices shifted in the international markets.
Data obtained from the Major Energies Marketers Association of Nigeria (MEMAN) revealed that in the downstream market, petrol gantry prices averaged N1,275 per litre from the previous price of N1,195.02/L.
Source: Getty Images
However, there was a higher landing cost pressure on PMS at import parity estimates, with N1,212.75 per litre (30-day average) versus N1,362.55 and N1,361.54 per litre recorded as spot price at ASPM and NPSC jetties.
Petrol price changes
Dangote's gantry price is listed at about N1,275 per litre, and coastal estimates are near N1,215 per litre, indicative of a discount toward the upper end of import parity estimates.
For diesel (AGO), import parity spot estimates at the jetties are near N1,750 per litre, while Dangote gantry pricing is close to N1,800 per litre. Coastal supply levels are markedly lower at nearly N1,443 per litre, revealing considerable markups between various logistics/delivery points.
In aviation fuel (ATK), import parity spot values hover near N1,679 per litre; Dangote's gantry prices are closer to N1,650 per litre, indicating that jet fuel pricing is at near parity with slight deviations to both sides based on supply chain and financing assumptions.
Source: Getty Images
Domestic gantry prices and coastal pricing
Below are the current domestic gantry prices for refined petroleum products:
- PMS: N1,275.00 per litre.
- AGO: N1,800.00 per litre.
- ATK: N1,650.00 per litre.
Current petrol prices at depots
Data obtained from Petroluemprice.ng provides a breakdown of the latest petrol prices at depots on May 20, 2026
Lagos
- African Terminal: N1,277
- Aiteo: N1,277
- Ardova: N1,278
- Ascon: N1,278
- Bono: N1,277
- Dangote: N1,278
- Duport: N1,802
- Emadeb: N1,805
- Heyden: N1,278
- Integrated: N1,277
- Menj: N1,805
- Quest: N1,278
- Sahara: N1,277
- Swift: N1,805
- Techno Oil: N1,277
Port Harcourt
- Aradel: N1,835
- Bulk Strategic: N1,306
- Matrix: N1,845
- Sigmund: N1,850
- T.S.L: N1,305
Calabar
- Fynfield: N1,295
- Northwest: N1,295
- Sobaz: N1,300
- Soroman: N1,295
Warri
- A.Y.M Shafa: N1,810
- First Fortune: N1,813
- Matrix: N1,855
- Nepal: N1,289
- NIPCO: N1,816
- Optima: N1,289
- Parker: N1,295
- Prudent: N1,290
- Rain Oil: N1,315
- Danmarna: N1,290
NNPC petrol price drops
Earlier, Legit.ng reported that the price of Premium Motor Spirit, otherwise known as petrol, had dropped at retail stations of Nigerian National Petroleum Company Limited (NNPCL).
The review followed three days after Dangote Refinery also slashed its petrol gantry price by N85 to N1,200 from N1,285.
Petrol then sold for N1,255 per litre as against N1,330, showing a decrease of N75.
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Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
