New Petrol Price Review Expected as Depot Rates Rise Above Dangote's

• Dangote-linked marketers raised their petrol selling price to N1,168 per litre, above the refinery's current gantry rate of N1,165
• Depot prices in Lagos, Port Harcourt, Calabar and Warri are running significantly higher than Dangote's official benchmarks
• Industry sources say a sustained market trend, not short-term movement, will determine whether the refinery adjusts its prices

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Dangote Petroleum Refinery may be heading toward another price revision after marketers linked to the facility began selling petrol above the refinery's official rate, with independent depots across several Nigerian cities also quoting higher figures.

Dangote-linked marketers were selling petrol at N1,168 per litre on Thursday, August 13 N3 above the refinery's official gantry price of N1,165.

The diesel gap is wider: the refinery's gantry price stands at N1,570 per litre, while affiliated marketers are quoting N1,630 per litre, a difference of N60.

New Depot Prices Across Key Cities

Petroluemprice.ng reports that the spread is visible in multiple locations.

The data shows that in Lagos, Pinnacle is selling petrol at N1,180 per litre and diesel at N1,625, while Sahara is quoting N1,680 for diesel and NIPCO N1,650. In Port Harcourt, Sigmund, Bulk Strategic and Liquid Bulk are all offering petrol at N1,205, which is N40 above Dangote's gantry price.

Calabar is seeing similar pressure, with Northwest selling at N1,195 per litre, Sobaz at N1,199, and Hong Petroleum, Fynefield and Soroman each quoting N1,198.

The widest diesel margin recorded in the data comes from Warri, where A.Y.M Shafa is offering diesel at N1,800 per litre, N230 above Dangote's official rate.

What Industry Sources Are Saying

Industry sources said the gap between official refinery prices and prevailing depot rates has held for roughly three days.

However, they cautioned that any decision by the refinery to revise its prices would depend on whether the trend proves sustained rather than temporary.

Downstream operators are also monitoring global crude prices and developments around the Strait of Hormuz, a key shipping route for oil exports.

A prolonged disruption to shipments through that waterway could push crude costs higher and increase the price of bringing refined products to market.

As of the time of reporting, the Dangote Petroleum Refinery had not announced any official price change. Its gantry rates remain N1,165 per litre for petrol and N1,570 per litre for diesel.

NNPC filling stations reduce petrol pump price

Earlier, Legit.ng reported that petrol prices at filling stations operated by the Nigerian National Petroleum Company Limited (NNPC Limited) in Lagos have been reduced again, offering motorists some relief as fuel prices continue to fluctuate.

A petrol attendant at an NNPC filling station on Alfred Rewane Road in Ikeja confirmed that the lower pump price is now in effect.

The latest reduction follows a recent adjustment by the Dangote Petroleum Refinery, which changed its petrol pricing in response to prevailing market conditions.