Dangote Raises Lagos Depot Petrol Price to N1,348 as Marketers Post Mixed Rates

Dangote Petroleum Refinery has raised its listed petrol depot price in Lagos by N6 per litre, from N1,342 to N1,348, even as other operators cut their rates in the same market.

The latest depot price data, recorded at midday on Thursday, October 15, 2026, showed mixed movements across Lagos, Port Harcourt, Calabar and Warri, according to Petroleumprice.ng.

Lagos: Dangote Up, Rano and NIPCO Down

In Lagos, A.A Rano reduced its petrol price by N3 per litre to N1,346 from N1,349. NIPCO lowered its rate by N1 to N1,345 from N1,346.

Matrix and Wosbab listed their prices at N1,350 per litre, while Emadeb quoted N1,345 per litre.

Aiteo's previous price stood at N1,344 per litre, while Integrated's was N1,349.

The figures show that depot prices were not uniform. Dangote recorded an increase while several other marketers in Lagos lowered their rates.

Port Harcourt and Calabar: Matrix Cuts Deepest

In Port Harcourt, Matrix reduced its petrol price by N10 per litre to N1,350 from N1,360. That was the largest reduction among the depots with comparable prices in the supplied data.

Bulk Strategic listed its rate at N1,360 per litre, while Masters quoted N1,348. Stockgap's current price stood at N1,360 per litre.

In Calabar, Matrix lowered its price by N5 to N1,360 from N1,365 per litre. Mainland listed its rate at N1,360 per litre.

Warri Moves Both Ways

Depot prices also moved in different directions in Warri. Matrix increased its rate by N3 per litre to N1,353 from N1,350, while Parker reduced its price by N2 to N1,348 from N1,350.

Keonamex and Rain Oil listed their prices at N1,350 per litre. Danmarna also quoted N1,350, although its previous price was not available for comparison.

Government Weighs N1,350 Ceiling

The federal government is negotiating a price ceiling of N1,350 per litre for petrol at the ex-gantry or landing-cost level, as part of measures to reduce sudden increases in pump prices.

Taiwo Oyedele, Minister of Finance, disclosed this on his verified X account. He explained that the proposed arrangement is intended to make fuel prices more predictable for households and businesses.

According to Oyedele, the government plans to introduce a system known as price modulation.

The spread of depot prices around the N1,345 to N1,360 band, with Dangote now at N1,348, sits close to the N1,350 ex-gantry ceiling under discussion. If the ceiling holds, marketers would have limited room to pass higher landing costs to consumers, which could steady pump prices for Nigerian businesses and households that depend on diesel and petrol for transport and production.