Petrol, diesel depot prices fall in Lagos, Warri, Port Harcourt and Calabar

Wholesale petrol and diesel prices fell across Lagos, Warri, Port Harcourt and Calabar between Monday, October 26, and Friday, October 30, 2026, as Dangote Refinery-backed marketers and depot operators intensified competition. Lagos recorded the sharpest cuts, with average petrol depot prices down ₦81.67 per litre and diesel down ₦80.

The development followed a ₦55 reduction by Dangote Refinery consortium marketers, which brought their petrol gantry price to ₦1,210 per litre on Friday.

Lagos leads the cuts

Lagos was the centre of the price battle. African Terminal and Ardova cut petrol prices from ₦1,340 to ₦1,260 per litre, reductions of ₦80 each. Aiteo recorded the biggest cut, lowering its price by ₦85 from ₦1,340 to ₦1,255 per litre. The average petrol price across the three depots fell to ₦1,258.33 per litre.

Diesel, also known as Automotive Gas Oil (AGO), also dropped. Rain Oil and Wosbab lowered their prices by ₦95 to ₦1,805 per litre. Integrated, African Terminal, Gulf Treasure and Duport reduced theirs by ₦90 to ₦1,810. Ibeto cut its price by ₦50, while T. Time recorded a ₦40 reduction. The average diesel price dropped to ₦1,808.75 per litre.

Warri, Port Harcourt and Calabar

In Warri, Matrix reduced petrol prices from ₦1,352 to ₦1,300 per litre, while Parker lowered its rate from ₦1,350 to ₦1,300. Prudent recorded the largest reduction of ₦55, bringing its price to ₦1,300. The average petrol price in Warri declined by ₦52.33 per litre. Diesel prices also eased, with Matrix and Prudent reducing their rates to ₦1,840 and ₦1,850 respectively.

In Port Harcourt, Masters led the reductions, cutting petrol prices by ₦56 to ₦1,280 per litre. Matrix, Bulk Strategic and Stock Gap also announced reductions, bringing the city's average depot price to ₦1,292.75 per litre.

Calabar recorded similar adjustments. Matrix reduced petrol prices by ₦42 to ₦1,298 per litre. Soroman also lowered its rate by ₦40 to ₦1,300, leaving the average depot price at ₦1,299 per litre.

Crude oil risk

International crude oil prices could complicate expectations of sustained fuel price relief. Brent crude climbed from $115.81 per barrel on Monday to $117.64 on Friday amid renewed concerns over the Iran conflict and potential Middle East supply disruptions. The increase could raise replacement costs for petroleum marketers if sustained.

Dangote Refinery's competitive pricing is expected to remain a major influence on domestic fuel prices. Further reductions will depend on refinery pricing decisions, product availability, international crude prices and competition among depot operators.

Earlier, depot owners in Lagos cut diesel prices below Dangote Petroleum Refinery’s new gantry rate of ₦1,840 per litre, less than 24 hours after the refinery announced a price increase.

For motorists and businesses, the latest depot cuts offer room for lower pump prices if marketers pass on the savings. The crude oil rally is the main risk to that relief.