Petrol Prices Fall: Full List of Nigerian States With Biggest Price Cut

• Petrol and diesel depot prices fell across Lagos, Warri, Port Harcourt and Calabar as marketers competed for buyers
• Lagos recorded the steepest cuts, with average petrol prices down ₦81.67 per litre and diesel down about ₦80
• Lower depot prices may ease costs for motorists and businesses, but pump prices depend on transport and retail margins

Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.

Nigerian motorists may be in for some relief as petrol and diesel prices decline across major depots, with Lagos and Delta states recording significant reductions following renewed competition among petroleum marketers.

Between Monday, October 26, and Friday, October 30, 2026, petrol depot prices fell across Lagos, Warri, Port Harcourt and Calabar as suppliers adjusted their rates to attract buyers.

According to PetroleumPriceNG, Lagos recorded the steepest reductions, with average petrol prices dropping by ₦81.67 per litre, while diesel prices declined by approximately ₦80 per litre.

The development followed a ₦55 price reduction by marketers linked to the Dangote Petroleum Refinery, bringing their petrol gantry price to ₦1,210 per litre on Friday.

Lagos records biggest petrol price cuts

Lagos emerged as the biggest beneficiary of the latest wholesale price reductions, with several major depot operators announcing lower petrol and diesel rates.

African Terminal and Ardova reduced their petrol prices from ₦1,340 to ₦1,260 per litre, representing an ₦80 reduction.

Aiteo recorded an even bigger adjustment, slashing its price by ₦85 from ₦1,340 to ₦1,255 per litre.

Consequently, the average petrol price across the three depots declined to ₦1,258.33 per litre.

Diesel prices also witnessed substantial reductions, offering potential relief to businesses that depend on generators, trucks and other diesel-powered equipment.

Rain Oil and Wosbab reduced their diesel prices by ₦95 to ₦1,805 per litre.

Similarly, Integrated, African Terminal, Gulf Treasure and Duport lowered their prices by ₦90 to ₦1,810 per litre.

The reported average diesel price in Lagos settled at ₦1,808.75 per litre.

Delta marketers announce fresh petrol reductions

In Delta State, petroleum marketers operating in Warri also reviewed their prices downward as competition intensified.

Matrix reduced its petrol price from ₦1,352 to ₦1,300 per litre, representing a ₦52 reduction.

Parker followed with a ₦50 reduction, bringing its price down from ₦1,350 to ₦1,300 per litre.

Prudent also slashed its price by ₦55 to ₦1,300 per litre.

These adjustments brought the average petrol price reduction across the three Warri depots to ₦52.33 per litre.

Diesel prices also declined, with Matrix offering the product at ₦1,840 per litre and Prudent at ₦1,850 per litre.

Port Harcourt, Calabar witness price adjustments

Port Harcourt in Rivers State and Calabar in Cross River State were also among the major petroleum distribution centres where depot prices reportedly declined during the review period.

However, the available figures did not establish the exact reductions recorded in both locations.

The price adjustments reflect growing competition among marketers seeking to maintain sales volumes in Nigeria's deregulated downstream petroleum market.

What lower prices mean for Nigerians

Although the reductions offer hope of cheaper fuel, motorists may not immediately experience equivalent savings at filling stations.

Retail pump prices depend on transportation costs, distribution margins, existing stock and individual marketers' pricing decisions.

Nevertheless, sustained reductions in depot prices could eventually ease transportation expenses and operating costs for businesses, potentially providing some relief to households already struggling with high living costs.

Depot owners release new rates nationwide

Legit.ng earlier reported that Nigeria’s downstream petroleum market is witnessing fresh competition as depot owners release new petrol prices across major cities, with Dangote Refinery maintaining a significantly lower ex-gantry price.

The latest figures show considerable differences between depot prices in Lagos, Warri, Calabar and Port Harcourt, raising questions about how the widening price gap could affect fuel marketers and motorists.