Depots release new petrol prices nationwide after Dangote increases ex-depot rate
By Aboki Forex —
Petroleum product depots across Nigeria have released fresh petrol loading prices after the Dangote Refinery raised its ex-depot price. Depot loading prices now range from N1,032 per litre to N1,250 per litre across major hubs including Lagos, Port Harcourt, Warri, and Calabar.
Industry analysts have warned that the new depot prices could push retail pump prices higher as marketers factor in rising costs. The adjustment follows Dangote Refinery's decision to price petrol in dollars, a move that has shocked the market.
Dangote sets new ex-depot price, depots adjust
Dangote Refinery on Tuesday set its ex-depot petrol price at N1,120 per litre, up from the previous rate of N1,070. This prompted competing depots to recalibrate their own loading rates. Data obtained by Petroleumprice.ng showed that as of Tuesday, July 14, 2026, petrol loading prices varied considerably by location and operator.
Independent marketers, many of whom source directly from Dangote or rival depots, are now reassessing their supply strategies. Industry stakeholders noted that where marketers choose to transfer higher acquisition costs to consumers, retail pump prices at filling stations could climb in the days ahead.
Breakdown of loading prices by location
In Lagos, prices ranged from N1,032 per litre at Rain Oil to N1,200 per litre at Pinnacle. Dangote and Techno Oil both sold at N1,120 per litre. African Terminal, Aiteo, Ascon, Integrated, and Sahara all listed at N1,125 per litre. Nipco sold at N1,170 per litre and Emadeb at N1,175 per litre.
In Port Harcourt, Optima sold at N1,141 per litre, Rain Oil at N1,170 per litre, and Matrix at N1,230 per litre. In Warri, Bulk Strategic priced at N1,150 per litre while Matrix sold at N1,250 per litre. In Calabar, Northwest listed at N1,250 per litre.
Analysts criticise dollar pricing policy
Independent petroleum marketers and energy analysts have criticised the Dangote Refinery's decision to price petroleum products in US dollars. They warned that the policy could increase pressure on Nigeria's foreign exchange market and create fresh uncertainty in the downstream oil sector.
They noted that although the refinery is entitled to determine its commercial strategy as a private enterprise, selling petroleum products for domestic consumption in dollars could have broader consequences for the economy and the country's foreign exchange stability.
Under the new pricing regime, petrol now sells at $0.779 per litre, diesel at $1.087 per litre, and aviation fuel at $0.985 per litre. The refinery said the new policy aligns with the reality of its operating costs and crude oil procurement.
For Nigerian consumers and businesses, the shift to dollar-denominated petrol sales and rising depot prices means higher costs at the pump are likely in the coming days, adding to inflationary pressures on household budgets and transport costs.