Fuel marketers have resumed loading petrol and diesel from private depots across Nigeria after nearly a week of disruptions caused by price adjustments in the downstream petroleum sector. Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the resumption on Tuesday, July 22, 2026, stating that private depots had restarted selling petroleum products and that fears of an impending fuel scarcity were unfounded.
Depot Owners Paused Operations to Recalibrate Prices
Ukadike explained that depot owners had temporarily halted loading operations to recalibrate their prices and collect top-up payments from marketers who had purchased products before the latest price increase. Unlike scenarios where prices drop, depot owners do not refund marketers for products already paid for at higher rates. “Marketers have started loading in other depots. You know, once there is a price change, they will stop and take their stock, then reset their prices around the rest of them. What we call top-up is the differential of the former price, so they can buy at the current price. These are the exercises that are ongoing. And once they are ongoing, you cannot load,” he said.
Lagos Depot Prices Rise to N1,275 per Litre
Petrol loading prices at major private depots in Lagos climbed by N25 per litre on Tuesday, July 22, with marketers paying up to N1,275 per litre. Nine depots, including African Terminal, ASCON, Gulf Treasure, Integrated, Matrix, NIPCO, Pinnacle, Sahara, and T.Time, all moved from N1,250 to N1,275 per litre. Price movements were mixed elsewhere. In Port Harcourt, Bulk Strategic and Masters held petrol at N1,265 per litre, while Liquid Bulk trimmed its price by N3 to N1,265 per litre, and Matrix cut its rate by N15 to the same level. In Calabar, Hong Petroleum dropped its price by N15 to N1,255 per litre, while Sobaz raised its loading price by N10 to N1,265 per litre. In Warri, Optima and Rain Oil both sold at N1,270 per litre.
Diesel Prices Also Edge Up
Diesel prices increased at several locations. In Lagos, African Terminal, Duport, Gulf Treasure, Ibachem, and Wosbab each raised diesel prices by N10 to N1,600 per litre. In Port Harcourt, Sigmund pushed its diesel rate up by N5 to N1,620 per litre, while in Warri, Prudent raised diesel by N10 to N1,610 per litre.
Dollar Pricing at Dangote Refinery
The Dangote Petroleum Refinery has reportedly increased its petrol price to $1,161.23 per metric tonne, a significant jump from its previous rate, as the Lagos refinery continues its shift to dollar-denominated transactions with marketers. Ukadike said he could not confirm whether marketers loading from the refinery's gantry in Lekki, Lagos, had started paying in dollars. “I know that Dangote has fixed its price in dollars, but no marketer has ever informed me that they have paid in dollars, especially those loading from the gantry. But for offshore loading or coastal loading, I can assure you that it will be paid in dollars. But for gantry loading, I don't know,” he said.
Depots Hike Petrol Prices, New Rates Emerge
Legit.ng previously reported that petroleum product depots across Nigeria released revised petrol loading rates, with prices jumping by as much as N118 per litre during the week, following Dangote Refinery's decision to price refined products in US dollars. The refinery's shift to dollar-denominated sales of Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and Aviation Turbine Kerosene (ATK) has pushed up replacement costs for marketers. This shift reacted across the supply chain, compelling private depots in Lagos, Warri, Port Harcourt, and Calabar to update their loading prices accordingly.
