Petrol and diesel depot prices rise across Nigeria as Dangote adjusts rates
By Aboki Forex —
Petrol and diesel depot prices climbed across all four major Nigerian trading hubs between August 31 and September 4, 2026, after Dangote Petroleum Refinery raised its diesel gantry price twice in one week.
By Friday, Lagos petrol prices had converged towards N1,280 per litre across most depots, with Pinnacle recording the largest gain after its PMS price moved from N1,266 to N1,290 per litre. Other Lagos depots, including Integrated, Ascon, Sahara, Aiteo and Nipco, closed the week at N1,280.
The diesel market saw sharper movement. Pinnacle's AGO price jumped from N1,670 to N1,830 per litre, a rise of N160, while Rainoil and T. Time each gained N100. By Friday, Lagos AGO depot prices ranged from N1,790 to N1,830 per litre.
Dangote raises diesel price twice
The increases followed two separate upward revisions by the Dangote Petroleum Refinery. The refinery raised its AGO gantry price from N1,670 to N1,750 per litre on September 1, then pushed it further to N1,850 per litre from midnight on September 4, bringing the cumulative weekly increase to N180 per litre.
In Warri, petrol prices moved to between N1,295 and N1,298 per litre. Prudent recorded the largest PMS gain at N24 per litre. Diesel prices were sharper: Rain Oil's AGO price surged N210 to N1,900 per litre, while Prudent also reached N1,900, up N200 on the week.
Port Harcourt depots saw more modest petrol increases. Stockgap rose from N1,280 to N1,295 per litre, the largest gain in that market at N15. On the diesel side, Bulk Strategic increased its AGO price by N125 to N1,840 per litre.
Calabar recorded the largest petrol increases of any location during the week. Fynefield and Sobaz each rose N40 to N1,310 per litre, while Matrix gained N37 and Soroman and Hong Petroleum also moved higher.
Landing costs now higher than depot prices
Nigeria's cost of importing petrol has climbed to N1,314.67 per litre, according to the latest figures from the Major Energies Marketers Association of Nigeria (MEMAN). Rising global crude prices and mounting geopolitical tensions are adding pressure to the country's downstream fuel market.
The MEMAN data also put the landing cost of diesel at N1,850.66 per litre, figures that are now broadly level with or above what most depots and the Dangote Refinery are currently charging. Despite the higher import benchmark, PMS continues to trade below the landing cost figure at several points in the supply chain.
For Nigerian businesses and consumers, the direction of travel is clear. Depot prices are rising at the same time as import costs, which means filling stations and transport operators are likely to pass on the increases. Any further weakness in the naira or fresh gains in global crude prices will only add to the pressure on pump prices in the coming weeks.