Petrol depot prices fall in Lagos, Port Harcourt and Calabar as Dangote lists N1,290

Petrol depot prices declined in Lagos, Port Harcourt and Calabar on Thursday, October 29, 2026, as several fuel marketers cut their selling rates. Dangote Refinery offered the lowest listed rate in Lagos at N1,290 per litre, while Northwest in Calabar listed the highest at N1,335 per litre.

The latest price data showed most depots reviewed reduced their petrol prices, although the extent of the cuts varied across the three locations.

Lagos depots lead price cuts

In Lagos, Dangote Refinery reduced its petrol price from N1,308 to N1,290 per litre, an N18 decline. MRS lowered its price by N14 to N1,310, while NIPCO cut its rate by N10 to N1,310 per litre. Pinnacle and Rainoil recorded the biggest reductions in Lagos, cutting their prices by N20 each to N1,300 per litre. African Terminal reduced its price by N12 to N1,307. Aiteo had no updated price in the latest data.

Port Harcourt and Calabar adjust

In Port Harcourt, Bulk Strategic and Masters reduced their petrol prices by N8 each to N1,325 per litre. Matrix adjusted its price downwards by N7, from N1,335 to N1,328 per litre. T.S.L listed its current price at N1,325 per litre, although its previous rate was unavailable for comparison.

In Calabar, Matrix reduced its petrol price by N6 to N1,332 per litre, while Northwest cut its rate by N5 to N1,335. Soroman listed its current petrol price at N1,330 per litre, with no previous price available to establish the change.

What the depot prices mean

The figures show Lagos had the lowest listed depot price among the three locations, with Dangote offering petrol at N1,290 per litre. Northwest in Calabar had the highest listed rate at N1,335.

Depot prices are selling rates to marketers and may differ from pump prices at filling stations, depending on transportation costs, operating expenses and retailers' margins.

Earlier, the Nigerian National Petroleum Company Limited pushed petrol prices up to N1,405 per litre at its filling stations, lifting the pump price by N35 from the previous rate of N1,370 per litre. Filling station attendants were reportedly informed of the change over the weekend, with the new price taking effect the following day. Figures recorded on October 16 showed Bongas and Pivot depots in Calabar were both selling petrol to marketers at N1,354 per litre, N4 above the government's proposed target.