N1,350: Petrol Prices Rise Again, Marketers Release New Rates
- Petrol depot prices climbed across Lagos, Warri and Calabar as several marketers raised ex-depot loading costs
- Bulk Strategic in Warri recorded the steepest single increase, adjusting its price by N87 per litre
- Industry operators warn that sustained depot price hikes could eventually push retail pump prices higher
Petrol prices at major depots across Nigeria have moved upward, with marketers in Lagos, Warri and Calabar raising their ex-depot Premium Motor Spirit (PMS) rates by between N2 and N87 per litre, adding fresh pressure to the downstream oil sector.
The latest depot loading data shows that most marketers reviewed their prices upward, though a handful held existing rates and at least one reduced its price.
Source: Getty Images
Lagos Depot Price Changes
Data from Petroluemprice.ng showed that in Lagos, A.A. Rano raised its ex-depot rate from N1,275 to N1,279 per litre, a N4 increase. African Terminal, Ascon, Gulf Treasure, Integrated and T.Time all moved their prices up by N2, bringing each to N1,275 per litre. Aiteo, Heyden and Nipco kept their prices unchanged at N1,275 per litre.
Emadeb moved in the opposite direction, cutting its depot price by N4 from N1,278 to N1,274 per litre.
The Warri market saw the most dramatic movement. Bulk Strategic lifted its ex-depot price by N87, from N1,263 to N1,350 per litre, the largest increase recorded across all three regions in the latest pricing cycle.
Other Warri-based marketers also adjusted upward. Liquid Bulk, Masters and Sigmund each raised their prices by N17 to N1,280 per litre, while Matrix increased its rate by N15 from N1,265 to N1,280 per litre. T.S.L. quoted a new depot price of N1,320 per litre, while no updated figure was available for Sahara.
In Calabar, Hong Petroleum raised its ex-depot price by N20, moving from N1,255 to N1,275 per litre. Soroman implemented a larger adjustment of N25, taking its price from N1,255 to N1,280 per litre.
The latest round of increases comes as marketers continue responding to shifting supply costs and wider wholesale price conditions in the petroleum sector.
Source: Getty Images
Snapshot of the market prices on Wednesday
Lagos Depots
- A.A. Rano – N1,279/litre
- African Terminal – N1,275/litre
- Aiteo – N1,275/litre
- Ascon – N1,275/litre
- Emadeb – N1,274/litre
- Gulf Treasure – N1,275/litre
- Heyden – N1,275/litre
- Integrated – N1,275/litre
- Nipco – N1,275/litre
- T.Time – N1,275/litre
Warri Depots
- Bulk Strategic – N1,350/litre
- Liquid Bulk – N1,280/litre
- Masters – N1,280/litre
- Matrix – N1,280/litre
- Sigmund – N1,280/litre
- T.S.L – N1,320/litre
Calabar Depots
- Hong Petroleum – N1,275/litre
- Soroman – N1,280/litre
Industry operators say if the upward trend in depot prices holds, retail pump prices could eventually follow, though the scale and timing of any adjustment at filling stations will vary depending on each marketer's pricing approach and the level of competition in their region.
Dangote resumes petrol sale in naira
Earlier, Legit.ng reported that Dangote Petroleum Refinery has switched back to naira pricing for Premium Motor Spirit on Wednesday, July 22, 2026, ending a week in which fuel was sold exclusively in US dollars following the suspension of truck loading operations.
The refinery communicated the change to petroleum marketers through a pricing notice issued by its commercial department, titled PMS Price Change Communication.
Under the revised pricing template, the refinery set its ex-depot gantry price at N1,215 per litre.
Source: Legit.ng
