Petrol Depot Prices Fall Nationwide As Dangote-Linked Marketers Announce New Rate
- Depot owners across Lagos, Calabar, Port Harcourt and Warri reduced PMS prices on Friday, August 14, 2026
- Calabar's Northwest depot recorded the biggest single cut, dropping its price by N21 per litre
- Dangote Refinery posted the lowest depot price in Lagos at N1,166 per litre amid rising market competition
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Petrol depot prices fell across Nigeria on Friday, August 14, 2026, with operators in Lagos, Calabar, Port Harcourt and Warri announcing reductions of up to N21 per litre as competition among petroleum marketers continues to sharpen.
New data covering Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) showed Dangote Refinery offering the lowest depot price in Lagos at N1,166 per litre, a N2 drop from its previous rate of N1,168.
Source: Getty Images
Lagos Depots Lower Prices
Data obtained from Petroleumprice.ng showed that several Lagos operators moved their prices downward.
African Terminal and Bono each brought their rates down by N10 to N1,180 per litre, while Integrated recorded the sharpest cut among Lagos depots, trimming its price by N11 from N1,190 to N1,179 per litre.
Nipco followed with a N10 reduction to N1,170, and both Pinnacle and Pivot dropped their prices by N10 to N1,180 per litre. Ardova held firm at N1,180, and MRS kept its price unchanged at N1,167 per litre.
Calabar saw the largest reductions of any market monitored. Northwest cut its price by N21, from N1,204 to N1,183 per litre, the biggest single reduction recorded on the day.
Fynefield, Hong Petroleum and Soroman each reduced their rates by N18 to N1,180 per litre, while Sobaz lowered its price by N16 to N1,183.
Matrix brought its Calabar price down by N7 from N1,212 to N1,205.
In Port Harcourt, Bulk Strategic, Liquid Bulk and Sigmund each cut their prices by N8 to N1,197 per litre, with Matrix also reducing by N7 to N1,205. Warri depots Matrix and Parker both dropped their rates by N10 to N1,205 per litre.
A snapshot of all prices recorded on August 14 is set out below.
Lagos
- 11 PLC — N1,170
- African Terminal — N1,180 (down N10)
- Aiteo — N1,175
- Ardova — N1,180 (unchanged)
- Bono — N1,180 (down N10)
- Dangote — N1,166 (down N2)
- Integrated — N1,179 (down N11)
- MRS — N1,167 (unchanged)
- Nipco — N1,170 (down N10)
- Pinnacle — N1,180 (down N10)
- Pivot — N1,180 (down N10)
Port Harcourt
- Bulk Strategic — N1,197 (down N8)
- Liquid Bulk — N1,197 (down N8)
- Matrix — N1,205 (down N7)
- Sigmund — N1,197 (down N8)
Calabar
- Fynefield — N1,180 (down N18)
- Hong Petroleum — N1,180 (down N18)
- Jenny — N1,182
- Mainland — N1,190
- Matrix — N1,205 (down N7)
- Northwest — N1,183 (down N21)
- Sobaz — N1,183 (down N16)
- Soroman — N1,180 (down N18)
Source: Getty Images
Warri
- Matrix — N1,205 (down N10)
- Nepal — N1,205
- Parker — N1,205 (down N10)
Whether these depot reductions will reach retail customers at the pump will depend on transport costs, logistics, operating expenses and the margins individual marketers choose to apply.
AGO prices recorded mixed movements on the same day, with some operators cutting diesel rates while others raised theirs.
Diesel price jumps 86.40% to N3,277 per litre in May 2026
Earlier, Legit.ng reported that the National Bureau of Statistics (NBS) reported a sharp increase in the average retail price of Automotive Gas Oil (AGO), popularly called diesel, in May 2026.
According to the agency’s latest diesel price watch report, the average price climbed to N3,277.47 per litre, representing an 86.40% increase from N1,758.26 recorded in May 2025.
The data also showed that diesel prices rose significantly monthly. The average price increased by 32.44% from N2,474.69 per litre in April 2026 to N3,277.47 in May.
Source: Legit.ng
