Petrol depot prices climbed across Lagos, Warri, Port Harcourt, and Calabar in the week ended Friday, October 9, 2026, with Calabar reaching ₦1,370 per litre, while diesel closed at ₦2,000 per litre at Matrix’s Warri depot, according to depot intelligence figures reviewed by Legit.ng. These increases come as the federal government announced a 30-day relief arrangement for NNPC Retail, which will forgo its petrol retail profit margin and sell at cost, though this is not a blanket nationwide price freeze.
Federal Government’s Intervention and Market Context
The Presidency announced that NNPC Retail would temporarily sell petrol at cost by forgoing its retail profit margin, aiming to ease fuel costs for consumers. However, the arrangement applies specifically to NNPC Retail’s margin, while a broader petrol price cap has been proposed separately, according to a release by the Presidency. This distinction is significant as depot prices continue to rise, reflecting wholesale acquisition costs for retailers, which may put further pressure on pump prices.
Depot owners have increased fuel prices nationwide despite the temporary relief at NNPC stations. These are wholesale depot quotations, not the pump prices motorists pay at filling stations, and the movements indicate rising supply-cost pressures across the country.
Regional Petrol Price Increases
In Lagos, Nipco’s petrol depot price increased by ₦27, from ₦1,323 to ₦1,350 per litre. Aiteo raised its quotation by ₦26 to ₦1,350, while Wosbab moved from ₦1,323 to ₦1,342, as reported by PetroleumPriceNG. Warri recorded steeper increases, with Matrix lifting its price by ₦37 to ₦1,360 per litre, while Optima, Keonamex, and Nepal each added ₦35, also closing at ₦1,360.
Calabar posted the sharpest increase among comparable petrol quotations, with Matrix adding ₦67 per litre to move from ₦1,303 to ₦1,370. Northwest increased its price by ₦40 to ₦1,350, while Pivot’s Friday quotation also stood at ₦1,350. In Port Harcourt, Stockgap raised petrol prices by ₦55 to ₦1,360, Masters added ₦45 to reach ₦1,350, and TSL and Sigmund each increased by ₦35 to ₦1,340. These figures underline considerable differences between suppliers, even within the same market.
Diesel Prices Surge in Warri
Diesel buyers also faced higher costs, with Matrix’s Warri quotation jumping by ₦180, from ₦1,820 to ₦2,000 per litre, the highest closing diesel price in the supplied review. NIPCO increased by ₦85 to ₦1,900. Across the listed Lagos depots, diesel closed mainly between ₦1,800 and ₦1,805, following increases of ₦20 to ₦30. Bulk Strategic in Port Harcourt added ₦25 to reach ₦1,825.
These increases followed Dangote refinery’s reported October 7 diesel gantry price reduction from ₦1,780 to ₦1,700. Despite this reduction, diesel costs at depots remain high, impacting transport, deliveries, and generator use for households and businesses.
Landing Costs and Future Outlook
MEMAN figures cited in the market report placed petrol landing cost at ₦1,316.93 per litre on October 8, up ₦20.15, while diesel landing cost rose by ₦108.43 to ₦1,878.74. These increases suggest renewed supply-cost pressure despite earlier declines in diesel import costs.
Legit.ng earlier reported that petrol depot prices rose across Lagos, Port Harcourt, Warri, and Calabar on Friday, October 9, raising concerns about further increases in the cost of fuel across Nigeria. In Port Harcourt, several depot operators raised their petrol prices to ₦1,900 per litre, while some filling stations in Lagos continued to sell the product at lower rates, as reported by Vanguard. Actual retail adjustments will depend on each marketer’s sourcing costs, existing stock, and pricing decisions, with the immediate concern being whether higher depot quotations will translate into more expensive transport and energy costs for consumers.
