Dangote Refinery: Marketers Release New Petrol Prices Nationwide
- Depot owners across Lagos, Port Harcourt, Calabar and Warri cut petrol prices after Dangote Refinery reduced its ex-gantry price to N1,325 per litre
- Dangote's latest N25 reduction came just nine days after the refinery raised its petrol price by N85 per litre
- The price adjustments coincided with a drop in global crude oil prices linked to fresh expectations of US-Iran diplomatic talks
PAY ATTENTION: Mark Legit.ng as a preferred source, and our content will appear higher in your Google feed!
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.
Depot owners across Nigeria have lowered the pump price of Premium Motor Spirit following Dangote Petroleum Refinery's decision to cut its ex-gantry price by N25, from N1,350 to N1,325 per litre.
The move came nine days after the refinery raised its petrol price by N85 on September 12, 2026, pushing the rate from N1,265 to N1,350.
Source: UGC
The latest reduction therefore only partially cancels that increase, with Dangote's current price sitting N60 above its pre-September 12 level.
Lagos depots lead the reductions**
Data obtained from Petroluemprice.ng on Tuesday, September 22, showed widespread price cuts at Lagos depots. ASCON, Integrated, and Sahara each trimmed their prices by N24, bringing rates down to N1,327 per litre.
Pinnacle recorded a similar N24 cut, moving from N1,350 to N1,326. MRS dropped by N20 to settle at N1,332 per litre.
Outside Lagos, several other depots followed suit. In Port Harcourt, Stockgap offered the lowest rate at N1,323, down N7, while Masters came in at N1,328, a N2 reduction. Matrix held steady at N1,330.
In Calabar, Mainland cut its price by N7 to N1,320, while Alkanes dropped N2 to N1,325. Sobaz bucked the trend, edging up N1 to N1,328.
In Warri, Keonamex reduced its price by N3 to N1,327, Nepal fell N1 to N1,329, and Prudent cut N2 to reach N1,328. Matrix in Warri moved in the opposite direction, rising N3 to N1,330.
Snapshot of prices
Lagos depots
- Lagos depots
- ASCON: N1,327
- Chipet: N/A
- Dangote: N1,325
- Duport: N/A
- Ibachem: N/A
- Ibeto: N/A
- Integrated: N1,327
- MRS: N1,332
- Obat: N/A
- Pinnacle: N1,326
- Sahara: N1,327
- Wosbab: N1,330
Port Harcourt depots
- Bulk Strategic: N1,328
- Masters: N1,328
- Matrix: N1,330
- Sigmund: N1,328
- Stockgap: N1,323
Calabar depots
- Alkanes: N1,325
- Mainland: N1,320
- Matrix: N1,330
- Sobaz: N1,328
Warri depots
- A.Y.M Shafa: N/A
- Keonamex: N1,327
- Matrix: N1,330
- Nepal: N1,329
- Optima: N1,328
- Parker: N1,328
- Prudent: N1,328
Source: Getty Images
Global crude prices also ease
The domestic price adjustments came alongside a drop in international crude oil benchmarks, driven by growing expectations of diplomatic engagement between the United States and Iran. Brent crude fell 3.34% to $100.40 per barrel, while West Texas Intermediate dropped 3.83% to $92.40 per barrel.
Global crude prices are one of several factors shaping domestic petrol costs in Nigeria, alongside the naira exchange rate, logistics expenses, and individual depot operating costs.
NNPC increases petrol price
Earlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) and other filling stations in Abuja increased the pump price of Premium Motor Spirit (PMS), also known as petrol.
Checks showed that several filling stations adjusted their prices.
The latest increase has been reflected in petrol prices across Abuja, with motorists now paying more at several filling stations.
The latest adjustments mean that petrol prices are now above N1,300 at some filling stations in the nation's capital.
Source: Legit.ng
