Nigerian Petrol Prices Surge as Depot Owners Adjust Rates Amid Import Delays

Petrol prices in Nigeria are increasing as depot owners adjust rates in response to delayed import inflows. Several depots, especially in Lagos and Warri, have raised prices to N800 per liter, up from the previous benchmark of N730.

Companies like Shell, Rainoil, Eterna, and Pinnacle have maintained prices at N800, while others like Zamson, AIPEC, Duport, NIPCO, and Aradel have adjusted their prices slightly higher. The rise in prices is attributed to limited product inflow, leaving several jetties vacant and tightening supply across the country.

Analysts warn that the upward pressure on depot prices may continue in the near term, especially if replenishment delays persist. The recent price hike follows Dangote Refinery's decision to sell petrol at N739 per liter, prompting other market players to adjust their prices accordingly.

The increase in petrol availability, with 74.2 million liters added in December 2025, has boosted the nation's stock levels. This improvement is credited to increased output from Dangote Petroleum Refinery and coordinated import arrangements.