Depot petrol prices climb across Nigeria as Dangote hikes rates

Petrol depot prices rose in most major Nigerian markets between Monday, August 17 and Friday, August 21, 2026, as international crude prices near $95 per barrel and supply concerns around the Strait of Hormuz pressure the downstream market.

According to Petroleumprice.ng, PMS prices increased across most depots in Lagos, Port Harcourt and Calabar, while Warri recorded mixed movements. Dangote Petroleum Refinery also raised its gantry prices, adding to the pressure on marketers.

Lagos, Port Harcourt, Calabar lead increases

In Lagos, all tracked depots recorded increases. MRS Tincan posted the biggest rise of N25 per litre, moving from N1,167 to N1,192. Pinnacle rose by N23 to N1,190. Pivot moved from N1,180 to N1,200, while Integrated and African Terminal increased to N1,198.

Port Harcourt also recorded strong increases. Liquid Bulk and Sigmund rose by N28 each to N1,218 per litre. Bulk Strategic increased by N25 to N1,215.

Calabar recorded the biggest gains. Mainland rose by N33 from N1,180 to N1,213. Soroman and Sobaz increased by N32 each, while Northwest gained N28. Fynefield was unchanged at N1,220, while Matrix rose by N15.

Warri mixed, Dangote adjusts prices

Warri was mixed. Matrix and Nepal rose by N15 each to N1,215, while Rain Oil and Parker fell by N5 to N1,215 and N1,195 respectively.

Dangote Petroleum Refinery raised its PMS gantry price by N20 from N1,165 to N1,185 per litre. The refinery also increased its AGO price by N100, from N1,570 to N1,670 per litre.

Crude concerns keep marketers cautious

International crude prices traded close to $95 per barrel amid the ongoing Hormuz crisis. With supply concerns unresolved, marketers may remain cautious about replacement costs, increasing the possibility of further adjustments in depot prices.

NNPCL cuts retail pump prices

Meanwhile, the Nigerian National Petroleum Company Limited (NNPCL) announced a reduction in the retail pump price of petrol across some parts of the country. The latest reduction marked the second drop in petrol prices in as many weeks.

In Lagos, petrol was reduced from N1,210 to N1,170 per litre. Motorists in Abuja are now paying N1,210 per litre, down from the previous N1,260 at NNPCL stations.

For Nigerian consumers, the divergent moves at depot and retail levels mean pump prices could stay under pressure, especially if crude costs remain high and the Hormuz situation persists.