Dangote Raises Petrol Gantry Price to N1,300 per Litre as Depots Sell Below New Rate

Dangote Petroleum Refinery raised its petrol gantry price to N1,300 per litre on Tuesday, November 3, 2026, from N1,215. The refinery also set its coastal lifting price at N1,676,250 per metric tonne under a revised framework tied to a new fixed-naira pricing arrangement.

The notice to customers said the new prices apply to all petrol loaded from 12:00 a.m. on November 3. The refinery suspended loading. The increase reverses two previous price adjustments, during which Dangote reduced petrol prices twice.

Depots quote below Dangote

Fuel importers have begun adjusting depot rates to attract customers. A review of the latest depot price list shows several operators selling below Dangote's new gantry rate. Masters offered the lowest at N1,283 per litre. Bulk Strategic quoted N1,284. Aiteo, Nipco and Rain Oil each quoted N1,290. A.A Rano sold at N1,293. African Terminal, Ascon and Integrated listed N1,295.

A.Y.M Shafa, Matrix, Parker, Wosbab, Stockgap and T.S.L all quoted N1,300. Dangote's own depot rate stood at N1,302. Pinnacle offered N1,305. MRS quoted N1,310. Northwest and Soroman recorded the highest prices at N1,318 each. The difference between the cheapest and most expensive depot prices is N35 per litre.

Market yet to settle

The fixed-naira pricing arrangement is expected to influence how petrol transactions are conducted going forward. The differences in depot rates suggest the market has not settled on a uniform price. Consumers may continue to see varying pump prices as filling station operators factor transportation and operating costs into retail rates. If competition continues, fuel prices at filling stations could change again.

Diesel depots also cut rates

Earlier, depot owners in Lagos cut diesel prices below Dangote Petroleum Refinery's new gantry rate of N1,840 per litre, less than 24 hours after the refinery announced a price increase. Duport, Ibachem and Ibeto priced diesel at N1,825 per litre. The adjustments highlight competition among suppliers in Nigeria's downstream petroleum market, with several depots offering Automotive Gas Oil, known as diesel, at lower rates than the refinery.

For Nigerian businesses and consumers, the gap between Dangote's gantry price and depot rates means retail fuel costs may vary by location and supplier in the near term.