Petrol Prices Rise at Depots as Dangote Refinery Holds at N1,215

Private depot owners have raised petrol and diesel prices across Nigeria as crude oil costs stay high, while Dangote Refinery held its ex-depot petrol price at N1,215 per litre. Data from the Major Energies Marketers Association of Nigeria (MEMAN), released on Tuesday, July 29, 2026, showed widespread increases across major loading points.

Depot Prices by Location

In Lagos, petrol now sells between N1,215 and N1,222 per litre at depots, up from a previous average of N1,200. Warri recorded prices between N1,230 and N1,242 per litre, while Calabar ranged from N1,225 to N1,240 per litre.

Port Harcourt remained the most expensive location, with petrol selling for between N1,334 and N1,340 per litre. Dangote Refinery retained its gantry price at N1,215 per litre, placing it among the lowest-priced major suppliers in the country.

Diesel, LPG and CNG Prices

Diesel traded at significantly higher levels than petrol nationwide. In Lagos, diesel sold between N1,610 and N1,855 per litre, while Port Harcourt prices ranged from N1,670 to N1,720 per litre.

Liquefied Petroleum Gas (LPG) sold for between N1,075 and N1,100 per kilogram in Lagos. Compressed Natural Gas (CNG) for vehicles was priced between N380 and N500 per standard cubic metre.

Crude Oil and Import Costs

MEMAN's pricing data showed Brent crude averaged about $110 per barrel over the seven days to July 28. West Texas Intermediate (WTI) traded at $96.08 per barrel, while Bonny Light stood at $95.67 per barrel.

The strength in crude prices has pushed up the cost of refined petroleum products for importers and local suppliers alike. Despite higher depot prices, MEMAN estimated the import-parity price for petrol at N1,185.22 per litre.

However, the seven-day average cost of importing petrol into the NPSC/ASPM Jetty in Apapa was placed at N1,368.95 per litre, a gap the association attributed to exchange rate movements, freight costs, and handling charges. For diesel, the seven-day average import parity price was estimated at N1,621.30 per litre, against a spot estimate of N1,633.84 per litre. Jet fuel was estimated at N1,616.20 per litre.

Outlook

Industry analysts say movements in global crude oil prices, the naira exchange rate, financing costs, and logistics expenses will continue to shape wholesale fuel prices across Nigeria in the weeks ahead.

In a related development, Dangote Refinery said it had identified individuals responsible for claims that it imported petrol into Nigeria. The company dismissed the allegations as false and said they were intended to discredit Nigeria's domestic refining efforts. It stated that it would reveal the identities and motives of those behind the claims at the appropriate time and would take legal action against them. According to the company, the individuals involved were among those who previously benefited from questionable financing arrangements tied to the rehabilitation of government-owned refineries.