Expect New Petrol Prices: Marketers Rush to Private Depots as Dangote Suspends Fuel Loading
- Dangote Refinery has halted petrol loading for five consecutive days, pushing marketers to seek alternative supply sources
- Heavy truck congestion hit the Coconut, Dockyard and Satellite Town depot corridors in Lagos as marketers scrambled for stock
- Industry operators warned that wholesale petrol prices could rise when Dangote Refinery eventually resumes loading operations
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Petroleum marketers across Lagos have flooded private depots with fuel-loading trucks after Dangote Petroleum Refinery suspended product dispatch for a fifth consecutive day, raising fears of an upward price shift once operations resume.
The refinery, now Nigeria's largest single loading hub for petroleum products, has not given marketers a clear timeline for when loading will restart or what ex-depot prices will look like upon resumption.
Source: UGC
Why marketers are rushing private depots
Checks by Petroleumprice.ng on Monday, July 20, 2026, showed unusually heavy truck movement along the Coconut, Dockyard, and Satellite Town depot corridors in Lagos.
At the Coconut axis, tankers took up both lanes of the roads leading into the depot cluster as drivers waited their turn to load, producing some of the busiest scenes recorded in recent weeks.
Market participants said the surge reflects an effort to build inventory before Dangote Refinery sets new wholesale prices.
The calculation appears straightforward: secure product now, even at a premium, rather than face a potentially steeper cost later.
Industry operators described the buying behaviour as precautionary rather than panic-driven, with marketers seeking to lock in stock while uncertainty around the refinery's loading schedule remains unresolved.
Rising crude prices add to pressure
The suspension coincides with a period of strengthening international crude prices.
Brent crude has been trading above $90 per barrel, partly driven by renewed Middle East tensions, a development that downstream operators say increases the likelihood that any resumption of loading at Dangote will come at a higher price point.
The combination of a prolonged supply gap and rising crude costs has made product availability a more urgent concern for many buyers than the current acquisition price at private depots, even though those prices are already trading well above previous levels.
Source: Getty Images
With Dangote offline for loading, private depots have effectively become the primary petrol source for a large portion of the market, a shift that is expected to continue until the refinery restores normal dispatch operations and provides clarity on its next pricing direction.
FG takes action as marketers halt petrol purchases
Legit.ng earlier reported that the federal government has opened fresh discussions with the Dangote Petroleum Refinery in response to growing alarm among petroleum marketers over unstable petrol pricing and disruptions to fuel loading operations at the Lekki-based facility.
Marketers have largely pulled back from making large-scale purchases of Premium Motor Spirit (PMS) while they wait for clarity on the refinery's dollar-denominated pricing structure and the landed cost of newly imported fuel.
The caution stems from fears that buying in bulk at present prices could result in significant losses should prices drop shortly afterwards.
Source: Legit.ng
