Petrol Depot Prices Rise to ₦1,370 as FG Announces 30-Day NNPC Relief
- Petrol depot prices rose across Lagos, Warri, Port Harcourt and Calabar, with Calabar reaching ₦1,370 per litre
- Diesel climbed to ₦2,000 per litre at Matrix’s Warri depot despite a reported Dangote refinery price reduction
- Government relief targets NNPC Retail’s profit margin, while rising landing costs cloud hopes of cheaper fuel
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria’s hopes of cheaper fuel face fresh pressure as petrol depot prices climbed across Lagos, Warri, Port Harcourt and Calabar during the week ended Friday, October 9, 2026.
The depot intelligence figures reviewed showed widespread increases between October 5 and October 9, with petrol reaching ₦1,370 per litre in Calabar. Diesel also became more expensive at several locations, closing at ₦2,000 per litre at Matrix’s Warri depot.
Source: Getty Images
These are wholesale depot quotations, rather than the pump prices motorists pay at filling stations.
FG’s intervention targets NNPC retail margins
The increases come amid a federal government intervention aimed at easing fuel costs. The Presidency announced that NNPC Retail would forgo its petrol retail profit margin and sell at cost under a temporary relief arrangement.
However, this should not be described as a blanket, nationwide 30-day price freeze binding all marketers.
The announced NNPC arrangement concerns its retail margin, while a broader petrol price cap has been proposed separately, according to a release by the Presidency.
Lagos and Warri record higher petrol prices
In Lagos, Nipco’s petrol depot price increased by ₦27, from ₦1,323 to ₦1,350 per litre. Aiteo raised its quotation by ₦26 to ₦1,350, while Wosbab moved from ₦1,323 to ₦1,342, PetroleumPriceNG reported.
Warri recorded steeper increases. Matrix lifted its price by ₦37 to ₦1,360 per litre, while Optima, Keonamex and Nepal each added ₦35, also closing at ₦1,360.
The movements indicate rising wholesale acquisition costs for retailers purchasing from the affected depots, potentially putting further pressure on pump prices.
Calabar posts sharpest petrol increase
Among the comparable petrol quotations highlighted, Matrix in Calabar recorded the largest increase, adding ₦67 per litre to move from ₦1,303 to ₦1,370.
Northwest increased its price by ₦40 to ₦1,350, while Pivot’s Friday quotation also stood at ₦1,350.
In Port Harcourt, Stockgap raised petrol prices by ₦55 to ₦1,360. Masters added ₦45 to reach ₦1,350, while TSL and Sigmund each increased by ₦35 to ₦1,340.
The figures underline considerable differences between suppliers, even within the same market.
Diesel reaches ₦2,000 in Warri
Diesel buyers also faced higher costs. Matrix’s Warri quotation jumped by ₦180, from ₦1,820 to ₦2,000 per litre, the highest closing diesel price in the supplied review. NIPCO increased by ₦85 to ₦1,900.
Across the listed Lagos depots, diesel closed mainly between ₦1,800 and ₦1,805, following increases of ₦20 to ₦30. Bulk Strategic in Port Harcourt added ₦25 to reach ₦1,825.
These increases followed Dangote refinery’s reported October 7 diesel gantry price reduction from ₦1,780 to ₦1,700.
Rising landing costs cloud outlook
MEMAN figures cited in the market report placed petrol landing cost at ₦1,316.93 per litre on October 8, up ₦20.15. Diesel landing cost rose by ₦108.43 to ₦1,878.74.
Source: UGC
The increases suggest renewed supply-cost pressure despite earlier declines in diesel import costs.
For households and businesses, the immediate concern is whether higher depot quotations will translate into more expensive transport, deliveries and generator use. Actual retail adjustments will depend on each marketer’s sourcing costs, existing stock and pricing decisions.
Petrol price nears N2,000 per litre
Legit.ng earlier reported that petrol depot prices rose across Lagos, Port Harcourt, Warri and Calabar on Friday, October 9, raising concerns about further increases in the cost of fuel across Nigeria.
In Port Harcourt, several depot operators raised their petrol prices to N1,900 per litre, while some filling stations in Lagos continued to sell the product at lower rates, Vanguard reported.
Source: Legit.ng
