Depots Hike Petrol Prices by N61 Per Litre, New Rates Hit Lagos and Warri

Private petroleum depots across Nigeria have raised ex-depot petrol prices by as much as N61 per litre, with new rates now ranging between N1,248 and N1,270 per litre at several major supply hubs in Lagos and Warri. The adjustments reflect rising replacement costs and shifting dynamics in the downstream sector as Dangote Refinery continues to dominate domestic fuel supply.

Lagos Depots Lead the Jump

Data from Petroleumprice.ng showed that in Lagos, African Terminal, Aiteo, Integrated, and Sahara all moved their ex-depot prices from N1,189 to N1,250 per litre, marking the largest single jump of N61. Ascon and Nipco Lagos also raised their rates from N1,200 to N1,250 per litre, a N50 increase. AIPEC adjusted its price from N1,200 to N1,248 per litre. Matrix raised its rate from N1,220 to N1,260 per litre, up N40, while Rain Oil moved from N1,240 to N1,270 per litre, an increase of N30.

Warri Depots Follow Suit

There were also changes at depots operating out of Warri and Port Harcourt as operators adjust to current market realities. Avidor and Matrix Warri both quoted N1,270 per litre, with Matrix Warri's figure representing a N45 rise. Liquid Bulk came in at N1,268 per litre, up N43, while Bulk Strategic and Masters each settled at N1,265 per litre, reflecting increases of N40 and N35 respectively. Nipco Warri quoted N1,268 per litre.

Full List of New Ex-Depot Prices

The full snapshot of new ex-depot prices is as follows: African Terminal: N1,250 (+N61), AIPEC: N1,248 (+N48), Aiteo: N1,250 (+N61), Ascon: N1,250 (+N50), Integrated: N1,250 (+N61), Nipco Lagos: N1,250 (+N50), Sahara: N1,250 (+N61), Avidor: N1,270, Bulk Strategic: N1,265 (+N40), Liquid Bulk: N1,268 (+N43), Masters: N1,265 (+N35), Matrix Warri: N1,270 (+N45), Nipco Warri: N1,268, Matrix: N1,260 (+N40), Rain Oil: N1,270 (+N30).

What This Means for Consumers

If marketers pass on these higher depot costs, retail pump prices at filling stations could climb further, adding pressure on Nigerian consumers already navigating the effects of fuel subsidy removal. Meanwhile, the Dangote Petroleum Refinery has introduced a free petrol delivery programme for fuel marketers across six Nigerian states, pricing the product at N1,075 per litre under the first phase of the initiative. That scheme is part of the company's broader Vision 2030 strategy to strengthen fuel supply logistics.