Petrol Prices Rise Across Nigeria After Depot Cost Increase
Filling stations across Nigeria have increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, following a rise in depot loading prices to around N1,200 per litre. A market survey by Petroleumprice.ng revealed that independent marketers have begun adjusting retail prices after private depot owners raised wholesale costs in Lagos, Port Harcourt, Warri, and Calabar.
New Pump Prices in Major Cities
Motorists are now paying between N1,100 and N1,230 per litre for petrol, depending on the location. In Lagos, several filling stations along the Isheri-Igando Road corridor adjusted their pump prices upward. Toluwalashe sold petrol at N1,198 per litre, Einiceato at N1,185, Techno Oil at N1,160, while Mavdav dispensed the product at N1,150 per litre.
In the Federal Capital Territory (FCT), petrol prices ranged from N1,118 to N1,200 per litre. The NNPCL retail outlet in Wuse Zone 2 sold at N1,118 per litre, while TotalEnergies along the Kubwa Expressway dispensed at N1,119 per litre. AYM Shafa and Bovas sold at N1,180 per litre, while Sunset Energy and Mainland filling stations charged N1,200 per litre. An MRS station along the Kubwa Expressway was not dispensing petrol during the survey.
Price Variations by State
In Port Harcourt, Eterna and other filling stations sold petrol at N1,200 per litre. In Kaduna, pump prices climbed to N1,230 per litre at outlets such as Edi-Jen, A.A. Rano, Rainoil, and Future View, while the NNPCL Mega Station sold at N1,168 per litre. In Enugu, petrol prices ranged between N1,100 and N1,220 per litre. NIPCO sold at N1,180 per litre, Pinnacle Oil at N1,200, while Tetris Energy also dispensed at N1,180 per litre.
In Edo State, petrol sold for between N1,140 and N1,200 per litre. The NNPCL station on Sapele Road charged N1,140 per litre, while MRS sold at N1,171 per litre. In Ondo State, pump prices ranged from N1,110 to N1,125 per litre. In Ilorin, Kwara State, motorists purchased petrol at prices ranging from N1,100 to over N1,150 per litre.
Reason for Price Hike
The latest increase in pump prices followed a temporary suspension of petrol loading at the Dangote Petroleum Refinery, a development that prompted depot owners and marketers to raise wholesale prices amid concerns over product availability. According to the report, private depot owners increased PMS loading costs to about N1,200 per litre, which marketers passed on to consumers.
NMDPRA Reassures Nigerians
Legit.ng previously reported that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said the country has sufficient stocks of petroleum products to meet nationwide demand. The regulator advised Nigerians against panic buying or stockpiling fuel, stressing that there is no reason for concern over product availability. According to the agency, existing supplies of petrol (PMS), diesel (AGO), and liquefied petroleum gas (LPG) are adequate to satisfy current consumption levels across the country.
