Private Depots Hike Petrol Prices by Up to N61 per Litre
Private petroleum depots across Nigeria have raised their ex-depot prices for premium motor spirit (PMS) by as much as N61 per litre, with new rates taking effect at several major supply hubs in Lagos and Warri. The adjustments reflect rising replacement costs and shifting dynamics in Nigeria's downstream petroleum sector, where Dangote Petroleum Refinery has established itself as the dominant force in domestic fuel supply.
Data from Petroleumprice.ng showed that in Lagos, African Terminal, Aiteo, Integrated, and Sahara all moved their ex-depot prices from N1,189 to N1,250 per litre, the largest single jump recorded at N61. Ascon and Nipco Lagos also raised their rates from N1,200 to N1,250 per litre, a N50 increase, while AIPEC adjusted its price from N1,200 to N1,248 per litre. Matrix raised its rate from N1,220 to N1,260 per litre, up N40, and Rain Oil moved from N1,240 to N1,270 per litre, an increase of N30.
Warri and Port Harcourt Depots Also Adjust Prices
There were also changes at depots operating out of Warri and Port Harcourt as operators adjust to current market reality. Avidor and Matrix Warri both quoted N1,270 per litre, with Matrix Warri's figure representing a N45 rise. Liquid Bulk came in at N1,268 per litre, up N43, while Bulk Strategic and Masters each settled at N1,265 per litre, reflecting increases of N40 and N35 respectively. Nipco Warri quoted N1,268 per litre.
The full snapshot of new ex-depot prices is as follows: African Terminal: N1,250 (+N61); AIPEC: N1,248 (+N48); Aiteo: N1,250 (+N61); Ascon: N1,250 (+N50); Integrated: N1,250 (+N61); Nipco Lagos: N1,250 (+N50); Sahara: N1,250 (+N61); Avidor: N1,270; Bulk Strategic: N1,265 (+N40); Liquid Bulk: N1,268 (+N43); Masters: N1,265 (+N35); Matrix Warri: N1,270 (+N45); Nipco Warri: N1,268; Matrix: N1,260 (+N40); Rain Oil: N1,270 (+N30).
Impact on Consumers and Market Dynamics
If marketers pass on these higher depot costs, retail pump prices at filling stations could climb further, adding pressure on Nigerian consumers already navigating the effects of fuel subsidy removal. The increases come as Dangote Refinery continues to dominate fuel supply, having recently introduced a free petrol delivery programme for marketers in six states, pricing the product at N1,075 per litre under the first phase. The refinery's initiative is part of its Vision 2030 strategy to strengthen logistics and improve access to petroleum products nationwide.
