Petrol Prices Rise at Depots Except at Dangote Refinery
- Private depot owners adjusted petrol and diesel prices across Nigeria as Brent crude averaged about $110 per barrel.
- MEMAN data showed depot petrol prices varied widely across Lagos, Warri, Port Harcourt, and Calabar on July 29.
- Dangote Refinery held its ex-depot petrol price at N1,215 per litre while Port Harcourt recorded the highest wholesale rates.
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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.
Private depot operators across Nigeria have raised petrol and diesel prices following sustained pressure from higher international crude oil prices, even as Dangote Refinery kept its wholesale petrol rate unchanged.
Data from the Major Energies Marketers Association of Nigeria (MEMAN), released on Tuesday, July 29, 2026, showed petrol selling between N1,215 and N1,222 per litre at Lagos depots from the previous average price of N1,200.
Source: Facebook
MEMAN reports that Warri recorded prices between N1,230 and N1,242 per litre, while Calabar ranged from N1,225 to N1,240 per litre. Port Harcourt remained the most expensive location, with petrol selling for between N1,334 and N1,340 per litre.
Dangote Refinery retained its gantry price at N1,215 per litre, placing it among the lowest-priced major suppliers in the country.
Diesel and gas prices
Diesel traded at significantly higher levels than petrol nationwide. In Lagos, the product sold between N1,610 and N1,855 per litre, while Port Harcourt prices ranged from N1,670 to N1,720 per litre.
Liquefied Petroleum Gas (LPG) sold for between N1,075 and N1,100 per kilogram in Lagos. Compressed Natural Gas (CNG) for vehicles was priced between N380 and N500 per standard cubic metre.
Global crude drives wholesale costs
MEMAN's pricing data showed Brent crude averaged about $110 per barrel over the seven days to July 28, while West Texas Intermediate (WTI) traded at $96.08 per barrel and Bonny Light at $95.67 per barrel.
The strength in crude prices has pushed up the cost of refined petroleum products for importers and local suppliers alike.
Source: Instagram
Despite higher depot prices, MEMAN estimated the import-parity price for petrol at N1,185.22 per litre. However, the seven-day average cost of importing petrol into the NPSC/ASPM Jetty in Apapa was placed at N1,368.95 per litre, a gap the association attributed to exchange rate movements, freight costs, and handling charges.
For diesel, the seven-day average import parity price was estimated at N1,621.30 per litre, against a spot estimate of N1,633.84 per litre. Jet fuel was estimated at N1,616.20 per litre on a seven-day average basis.
Industry analysts say movements in global crude oil prices, the naira exchange rate, financing costs, and logistics expenses will continue to shape wholesale fuel prices across Nigeria in the weeks ahead.
Dangote names those behind petrol import allegations
Earlier, Legit.ng reported that Dangote Refinery said it had identified the individuals responsible for claims that it imported petrol into Nigeria. The company dismissed the allegations as false and said they were intended to discredit Nigeria’s domestic refining efforts.
The refinery stated that it would reveal the identities and motives of those behind the claims at the appropriate time and would take legal action against them.
According to the company, the individuals involved were among those who previously benefited from questionable financing arrangements tied to the rehabilitation of government-owned refineries
Source: Legit.ng
