N1,255: Depot Owners Slash Petrol Prices Following Dangote Reduction
- Depot owners across Nigeria have cut petrol prices to around N1,255 per litre, signalling relief for motorists
- The price adjustments come after Dangote Petroleum Refinery reduced its gantry price for PMS
- Findings show that several depots in Lagos, Warri, Port Harcourt, and Calabar have lowered their prices
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Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, the stock market, and broader market trends.
There is a glimmer of relief for Nigerians as depot owners have joined Dangote petroluem Refinery to slash petrol prices.
Dangote Refinery management recently reduced its gantry price to N1,200 per litre from N1,275.
Source: Getty Images
In response, private depots have slashed their prices to as low as N1,215 to N1,255 per litre to stay competitive.
Price war: Depots reduce petrol prices
For petrol, depots across Lagos, Warri, Port Harcourt, and Calabar have adjusted prices downward in response to Dangote’s move.
In Lagos, Nipco, Aiteo, and Ardova reduced prices to around N1,215 per litre, while other depots across regions followed similar downward trends.
Across Warri, Port Harcourt, and Calabar, depot prices now range between N1,210 and N1,255 per litre, reflecting tighter margins and stronger competition among marketers.
Snapshot of new petrol prices at depots
- Nipco: N1,215
- Aiteo: N1,215
- Ardova: N1,215
- Parker: N1,253
- Zamson: N1,253
- Danmarna: N1,255
- Liquid Bulk: N1,215
- Masters: N1,210
- Fynefield: N1,230
- Dangote (gantry): N1,200
Hope rises for lower petrol prices
Petroleumprice.ng reports that several factors drive the recent price adjustments.
Despite Brent crude rising to about $113 per barrel, local refining capacity has enabled domestic prices to ease independently of global trends.
At the same time, Dangote Refinery’s price cut has forced depots to adjust their rates to remain competitive, with many operators accepting slimmer margins to retain market share.
Additionally, improved supply routes, including a coastal price of N1,153 per litre, are helping to reduce distribution costs across southern depots.
Source: Getty Images
The latest adjustment follows previous price increases triggered by global tensions, which pushed petrol prices from about N840 per litre before late February to around N1,300 per litre in recent weeks.
The new reduction from about N1,275 to N1,200 per litre could lead to a slight drop in pump prices, potentially bringing them below the N1,300 mark.
Despite the price adjustment, the Dangote Refinery continues to face constraints in crude oil supply.
Findings indicate that the facility experienced a shortfall of about 79.53 million barrels of crude between October 2025 and mid-March 2026.
NNPC petrol prices
Earlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) has increased petrol prices across its retail outlets, raising pump prices in Lagos from N1,230 to N1,330 per litre.
In Abuja, the price rose from N1,260 to N1,361 per litre, reflecting a fresh adjustment amid rising crude oil costs and supply pressures.
New prices in other parts of the country, including N1,335 per litre in Anambra and N1,330 per litre in Borno.
Source: Legit.ng
