Petrol Prices Fall As Marketers Release Latest Depot Rates in Nigeria
- The Major Energies Marketers Association of Nigeria (MEMAN) has released its latest petroleum product price data for Monday, November 9, 2026
- Petrol ex-depot prices ranged from N1,250 to N1,282 per litre in Lagos, while Calabar recorded rates of N1,285 to N1,305 per litre
- The report also provided updates on diesel, cooking gas, compressed natural gas and the share prices of major energy companies listed on the Nigerian Exchange
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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.
The Major Energies Marketers Association of Nigeria (MEMAN) has released its latest petroleum product price data, showing varying ex-depot prices across major Nigerian trading hubs.
The report, dated Monday, November 9, 2026, provides an overview of petrol, diesel, cooking gas and compressed natural gas (CNG) prices in Lagos, Warri, Calabar and Port Harcourt.
Source: UGC
The figures highlight differences in wholesale petroleum product prices across the country, reflecting the varying costs of supplying fuel to different locations.
Petrol prices vary across major depots
According to MEMAN's latest data, petrol, also known as Premium Motor Spirit (PMS), sold for between N1,250 and N1,282 per litre in Lagos.
In Calabar, the ex-depot price ranged from N1,285 to N1,305 per litre, while Port Harcourt recorded a range of N1,307 to N1,325 per litre.
The figures show that petrol prices in the three locations differed, with Port Harcourt recording the highest reported minimum and maximum prices.
The report also listed prices for Automotive Gas Oil (AGO), commonly known as diesel.
In Lagos, diesel prices ranged from N1,780 per litre, while Warri recorded a lower starting price of N1,600 per litre. However, the upper price figures in the supplied data are unclear.
MEMAN reports CNG and cooking gas prices
The association also provided updates on alternative fuels and cooking gas.
CNG prices for vehicles ranged between N380 and N500 per standard cubic metre (scm).
Liquefied petroleum gas (LPG), commonly known as cooking gas, was quoted at between N1,180 and N1,430 per kilogram in Lagos.
In Port Harcourt, LPG prices ranged from N415 to N430 per kilogram, according to the report.
Source: Getty Images
Energy stocks record mixed performance
MEMAN's market update also tracked the share prices of major energy companies listed on the Nigerian Exchange.
Seplat Energy was quoted at N16,000.10, while Aradel Holdings traded at N1,296.00 per share.
Geregu Power stood at N825.70, while TotalEnergies Marketing Nigeria traded at N518.40.
Other companies listed included Conoil at N210.00, Transcorp Power at N232.00, Eterna at N36.30 and Oando at N35.90.
The supplied figures showed gains of 5.65% for Transcorp Power and 8.46% for Eterna.
Petrol prices
Earlier, Legit.ng report indicated that Nigerian National Petroleum Company Limited (NNPCL) retail outlets had reduced their Premium Motor Spirit (PMS), also known as petrol, prices.
The adjustment came three days after Dangote Refinery reduced its petrol gantry price by N85, from N1,285 to N1,200 per litre.
Petrol was subsequently sold at N1,255 per litre, down from N1,330, representing a reduction of N75 per litre.
Source: Legit.ng
