NNPC Retail Leads with Reduced Petrol Price Amid Market Volatility
The Nigerian National Petroleum Company (NNPC) Retail has emerged as the leading filling station chain selling petrol at a reduced rate, cutting its pump price to N1,110 per litre on July 13, 2026, down from N1,170 per litre. This development offers temporary relief to motorists who have grown anxious over worsening fuel price volatility since importers issued notice to marketers of an impending price increase, effective July 17, 2026.
Lado Oil is another operator holding the line, retailing petrol at N1,150 per litre at a time when most competitors are charging N1,200. Across Abuja and neighbouring areas, pump prices have broadly remained between N1,155 and N1,205 per litre, though that relative stability is beginning to erode as higher depot costs filter through the supply chain.
Prices Set to Rise Further
Several filling stations nationwide have already started moving their pump prices above N1,200 per litre, a trend that financial expert Osas Igho said will intensify rapidly. "Due to the notice issued by importers to marketers, petrol prices will hit N1,400 per litre in some parts of the country. It is a matter of days," Igho told Legit.ng. He urged Nigerians to prepare for a more severe adjustment as Dangote Refinery and major depots effect what he described as the biggest price changes yet. Although Dangote Refinery has denied suspending petrol sales, global crude oil prices continue to weigh heavily on Nigeria's downstream market.
What Is Driving the Price Surge?
The pressure on retail prices stems primarily from a surge in ex-depot costs tied to rising global crude oil prices. Importers have passed those costs on to marketers, setting the stage for widespread upward adjustments at the pump across the country. Legit.ng previously reported that Nigerian filling stations had begun revising their pump prices upward following increases in ex-depot prices by Dangote Refinery and importers.
Dangote Refinery Hikes Petrol Prices by N44
Legit.ng earlier reported that Dangote Petroleum Refinery has increased the price of Premium Motor Spirit (PMS), popularly known as petrol, by N44 per litre, to N1,120 per litre, marking another significant adjustment as global crude oil prices continue to surge amid escalating geopolitical tensions in the Middle East. The latest increase comes barely 24 hours after the refinery announced the suspension of naira-denominated fuel sales, directing marketers to pay for petroleum products in United States dollars. The development signals fresh pressure on Nigeria's downstream petroleum market, where depot prices have already risen sharply, raising concerns over another round of increases at filling stations across the country.
