Diesel prices top ₦2,000 per litre as depot rates diverge in Nigeria

Diesel prices have climbed above ₦2,000 per litre in parts of Nigeria, adding fresh pressure on businesses and consumers. A market survey showed diesel sold between ₦2,000 and ₦2,020 per litre on Friday, September 4, 2026, across AA Rano, Empire Energy, Ranoil and other filling stations in Abuja and its environs.

The latest retail prices are about ₦220 to ₦300 per litre higher than the previous range of ₦1,700 to ₦1,800, depending on location and filling station. The increase followed a rise in depot prices, with several operators moving their prices to around ₦1,900 per litre.

Depot prices and Dangote refinery

Depot operators including Ranoil Delta, NIPCO Warri, Prudent Oghara and Zamson reviewed their prices upwards, according to PetroleumPriceNG. The development came against higher crude oil prices, which continue to influence refined product costs.

Dangote Petroleum Refinery raised its AGO gantry price by ₦100 per litre to ₦1,850, with the new rate taking effect from midnight Friday. The increase was linked to elevated crude prices, with Brent trading around $94.74 per barrel and West Texas Intermediate at $90.34 at the time of reporting.

Lagos depots move in the opposite direction

While some prices rose, major Lagos depots moved the other way. PetroleumPriceNG reported that Obat, Duport, T.Time, Ibeto and Ibachem reduced AGO prices to ₦1,790 per litre on Friday, September 4. That is ₦60 below Dangote Refinery's ₦1,850 gantry price.

The cuts came less than 24 hours after Dangote announced its ₦100 increase, showing the different forces at play across Nigeria's diesel market. Weak buying activity at the higher market price prompted some depot operators to cut rates rather than pass the refinery's increase to customers.

What it means for businesses

The contrasting movements underline the need to separate refinery, depot and retail prices when tracking diesel costs. Retailers in Abuja are charging more than ₦2,000 per litre, while selected Lagos depots sell below ₦1,850. The difference reflects transport costs, location, margins, supply and local demand.

For businesses that depend on diesel for generators and machinery, the retail increase remains a concern. Diesel is widely used by manufacturers, telecoms companies, logistics operators, hospitals, hotels and small businesses relying on alternative power sources.

Future price movements will depend on crude oil prices, import and domestic supply conditions, depot inventories and market demand. Petrol prices have also surged to ₦1,345 per litre, adding more pressure on motorists and businesses. As geopolitical tensions influence global oil markets, families and industries face rising transport and operating costs that could strain budgets.