Petrol depot prices have climbed across Lagos, Warri, and Calabar as several marketers raised their ex-depot loading costs for Premium Motor Spirit (PMS). The latest adjustments, recorded on Wednesday, July 23, 2026, show increases ranging from N2 to N87 per litre, adding fresh pressure to Nigeria's downstream oil sector.
Bulk Strategic Records Steepest Hike in Warri
The most dramatic movement occurred in Warri, where Bulk Strategic lifted its ex-depot price by N87, from N1,263 to N1,350 per litre. This is the largest single increase recorded across all three regions in the current pricing cycle. Other Warri-based marketers also adjusted upward: Liquid Bulk, Masters, and Sigmund each raised their prices by N17 to N1,280 per litre, while Matrix increased its rate by N15 from N1,265 to N1,280 per litre. T.S.L. quoted a new depot price of N1,320 per litre.
Lagos Depots See Modest Increases
In Lagos, A.A. Rano raised its ex-depot rate from N1,275 to N1,279 per litre, a N4 increase. African Terminal, Ascon, Gulf Treasure, Integrated, and T.Time all moved their prices up by N2, bringing each to N1,275 per litre. Aiteo, Heyden, and Nipco kept their prices unchanged at N1,275 per litre. Emadeb moved in the opposite direction, cutting its depot price by N4 from N1,278 to N1,274 per litre.
Calabar Depots Also Adjust Upward
In Calabar, Hong Petroleum raised its ex-depot price by N20, moving from N1,255 to N1,275 per litre. Soroman implemented a larger adjustment of N25, taking its price from N1,255 to N1,280 per litre.
Industry Operators Warn of Retail Impact
Industry operators warn that if the upward trend in depot prices holds, retail pump prices could eventually follow. However, the scale and timing of any adjustment at filling stations will vary depending on each marketer's pricing approach and the level of competition in their region.
Dangote Refinery Resumes Naira Pricing
In a related development, Dangote Petroleum Refinery has switched back to naira pricing for Premium Motor Spirit as of Wednesday, July 22, 2026. This ends a week in which fuel was sold exclusively in US dollars following the suspension of truck loading operations. Under the revised pricing template, the refinery set its ex-depot gantry price at N1,215 per litre, according to a pricing notice issued by its commercial department.
