Petrol and Diesel Prices Surge in Nigeria's Depots

During the week ending September 4, 2026, depot prices for petrol and diesel rose across Nigeria's four major downstream trading locations, influenced by refinery price adjustments and increasing global crude oil prices. Petrol prices converged towards N1,280 per litre, with Pinnacle recording the largest increase from N1,266 to N1,290 per litre.

Other depots, including Integrated, Ascon, Sahara, Aiteo, and Nipco, closed the week at N1,280. The diesel market experienced sharper increases, with Pinnacle's Automotive Gas Oil (AGO) price rising from N1,670 to N1,830 per litre.

In Lagos, AGO prices ranged from N1,790 to N1,830 per litre. The refinery had raised its AGO gantry price from N1,670 to N1,750 per litre on September 1, and further to N1,850 per litre on September 4, totaling a N180 increase for the week.

The cost of importing petrol reached N1,314.67 per litre, while diesel's landing cost was N1,850.66 per litre.