Petrol prices in Calabar, Warri, and Port Harcourt have dropped below the Dangote Petroleum Refinery's gantry price of ₦1,350 per litre, according to a market survey by Petroleumprice.ng published on Friday. The survey shows that increased supply and competition among depot owners have driven wholesale offers lower, with some depots selling Premium Motor Spirit (PMS) at between ₦1,330 and ₦1,335 per litre. This marks a notable shift in Nigeria's downstream petroleum market, where coastal cities now offer cheaper petrol than Lagos, a traditional distribution hub.
Calabar Records Lowest Petrol Price
The survey revealed that Alkanes, Sobaz, Fynefield, and Northwest depots in Calabar are selling petrol at ₦1,330 per litre, which is ₦20 below the Dangote refinery's gantry rate. This price represents the lowest offer among the coastal markets covered by the report. In Warri, Nepal, Matrix, and Optima depots are quoting ₦1,335 per litre, placing their offers ₦15 below the refinery benchmark. Meanwhile, Masters and Stockgap depots in Port Harcourt are selling at ₦1,333 and ₦1,332 per litre, respectively, which are between ₦17 and ₦18 below Dangote's price.
Lagos Petrol Offers Remain Higher
Despite Lagos's proximity to the Dangote refinery and major import terminals, wholesale petrol prices in the city remain comparatively higher. African Terminal, Ascon, and Integrated are selling petrol at ₦1,351 per litre, while MRS Tincan quoted ₦1,352. Based on the latest figures, Calabar's ₦1,330 offer is between ₦21 and ₦22 below the Lagos range. Warri is between ₦16 and ₦17 cheaper, while Port Harcourt prices are approximately ₦18 to ₦20 lower. This unusual market situation sees petrol trading more cheaply outside Lagos, even though the city remains a key distribution point.
Increased Supply Fuels Competition
The price reduction coincides with improved petrol availability across the three markets. The report indicates that Calabar has seven depots with petrol stocks, while Warri and Port Harcourt have five and six, respectively. This gives these locations a deeper physical supply position than the Lagos market. Increased product volumes from the Dangote refinery have reportedly shifted competitive pressure towards the coastal hubs. Depot owners holding available stocks are cutting their offers to attract wholesale buyers and move products more quickly, according to data obtained from PetroleumPriceNG. This supply-driven competition has created the unusual situation in which petrol is changing hands below the refinery's own gantry price.
Import Restrictions Add Pressure
The market movement also comes amid restrictions affecting some Lagos traders over import licence permits. Market sources said some affected traders had already imported petroleum products and were seeking to sell or blend the volumes. That situation is adding further supply pressure to the wholesale market. The current price structure shows Dangote refinery at ₦1,350 per litre, Calabar at ₦1,330, Warri at ₦1,335, and Port Harcourt at between ₦1,332 and ₦1,333. Lagos, meanwhile, remains higher at between ₦1,351 and ₦1,352 per litre, highlighting how stronger supply and depot competition are reshaping petrol prices across Nigeria's coastal markets.
In a related development, Legit.ng earlier reported that petrol prices have climbed sharply across parts of Northern Nigeria, with motorists in some communities paying as much as N1,850 per litre, deepening concerns over transportation costs, food prices, and household expenses. The steepest price cited was in Mubi, Adamawa State, where petrol reportedly reached N1,850 per litre. In several other northern markets, prices have moved into the N1,500 to N1,700 range. The contrasting price trends between the southern coastal markets and the northern regions underscore the uneven impact of supply dynamics and distribution challenges across Nigeria.
