Petrol, Diesel Prices Drop Across Major Nigerian Depots as Landing Costs Fall Below Dangote Refinery Rate
By Aboki Forex —
Depot prices for petrol and diesel dropped significantly across Lagos, Warri, and Port Harcourt in early June 2026. Diesel prices in Lagos fell by up to N11 per litre, signalling increased competition among depot owners. Port Harcourt also saw notable petrol price cuts, reflecting changes in crude oil prices last week.
The landing cost of imported petroleum products in Nigeria, including Premium Motor Spirit (PMS) and liquefied petroleum gas (LPG), has dropped sharply. This offers fresh hope for lower energy prices across the country.
New data from the Major Energy Marketers Association of Nigeria (MEMAN) showed that the cost of bringing fuel products into Nigeria has now fallen below the ex-depot prices offered by the Dangote Refinery.
Petroleum marketers reportedly imported fuel cargoes valued at about N279 billion to boost supply and take advantage of declining international market prices, according to a Punch report.
According to MEMAN’s daily energy bulletin released on June 10, 2026, the landing cost of petrol dropped to N1,190 per litre. This compares to the N1,250 ex-depot price reportedly sold by the 700,000 barrels-per-day Dangote Refinery. That is a price difference of N60 per litre.