N1,278/L: Petrol Price Drops at Private Depots Nationwide

• Petrol prices remained largely stable nationwide, trading mostly between N1,278 and N1,300 per litre across major private depots
• Diesel prices dropped sharply in Lagos, Warri and Port Harcourt, with some depots recording cuts of up to N135 per litre
• Warri recorded the highest petrol price increase during the week, while depots in Calabar maintained prices

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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 price of petrol at various private depots across Nigeria recorded marginal declines in a few markets in the week( Monday, May 11 to Friday, May 15, 2026).

Petrol price in Nigeria

Data revealed that Premium Motor Spirit (PMS) in private depots in Lagos were mostly between N1,278 and N1,280/ litre throughout the week.

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Prices at the integrated, Ascon and Bono depot decreased by N2 from and to N1,278/litre. A.A Rano depot recorded a decrease from N1,285 to N1,280/ litre while Aiteo maintained a steady price of N1,280/litre.

Petroluemprice.ng reports that the Automotive Gas Oil (AGO), commonly known as diesel, market also witnessed a decline at most depots as sellers reduced their prices on softer demand.

Rain Oil cut prices from N1,890 to N1,815/ litre. Menj recorded a drop from N1,900 to N1,815/litre, while Aipec and Integrated reduced prices from N1,890 to N1,815/ litre.

In Warri, petrol prices moved higher during the week, making the city one of the most expensive locations to buy PMS.

Prices at Matrix moved from N1,285 to N1,293 per litre, Nepal from N1,280 to N1,295, while Parker moved prices upward from N1,280 to N1,292 per litre.

Warri depot, despite having the highest petrol prices in the country, had the sharpest drops in the cost of diesel nationwide.

Depots like Rain Oil announced a cut on AGO from N1,950 to N1,815 per litre- a N135 drop, while First Fortune dropped by N74 from N1,888 to N1,814 per litre.

However, Dammarna and Prudent moved their prices downwards to about N1,815/ litre.

In the Port Harcourt region, PMS had marginal declines, with the master depot dropping prices by N5 from N1,305 to N1,300 per litre while Liquid Bulk and TSL maintained a constant price at N1,300 per litre.

Diesel prices also dropped to N1,865 per litre in the Port Harcourt depot. Matrix and Sigmund had prices of N1,910 to N1,865 per litre.

In Calabar, petrol price at Sobaz depot moved from N1,287 to N1,295/ litre, while Fynefield recorded an increase of N4 per litre from N1,290 to N1,294 per litre during the week.

NNPC petrol prices in Nigeria

Earlier, Legit.ng reported that Nigerian National Petroleum Company Limited (NNPCL) retail outlets have reduced the cost of Premium Motor Spirit, also known as petrol.

The changes came just three days after the Dangote Refinery had reduced its petrol gantry price by N85 to N1,200 per litre from N1,285.

Petrol was now selling at N1,255 per litre, down from N1,330, representing a reduction of N75.