Petrol depot prices surge to N800 per litre in Lagos
Private petroleum depots in Lagos have sharply increased the ex-depot price of petrol, with rates reaching as high as N800 per litre. The price hike is putting pressure on marketers and raising concerns about a possible rise in pump prices across Nigeria. Jeremiah Olatide, CEO of petroleumprice.ng, attributed the move to attempts by importers to recover previous losses. The Dangote Refinery’s recent supply issues have also contributed to the current market volatility.
TLDR
- Data from petroleumprice.ng showed petrol prices at private depots in Lagos climbing to N800 per litre within 48 hours.
- Dangote depot sold petrol at N703 per litre on Friday, up from N702.50 on Wednesday, December 31, 2025.
- Eterna and Integrated depots raised prices to N800 per litre on Friday, while Shellplux and AIPEC sold at N726 per litre earlier in the week.
- The Dangote Refinery previously slashed its petrol price from N828 to N699 per litre, effective December 11, 2025.
- Jeremiah Olatide said importers are holding back volumes and adjusting prices in response to anticipated supply tightness and recent refinery shutdowns.
