Private Depots Raise Petrol Prices To ₦800 Per Litre Over Supply Fears

Private Depots Raise Petrol Prices To ₦800 Per Litre Over Supply Fears
Supply concerns and refinery shutdown drive price increases.
Marketers warn of imminent pump price hike nationwide.

Private petroleum depots across Lagos and other major fuel distribution hubs have increased the ex depot price of Premium Motor Spirit, PMS, commonly known as petrol, to as high as ₦800 per litre, raising concerns over an imminent hike in pump prices nationwide.

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EKO HOT BLOG reports that Data from petroleumprice.ng on Saturday showed that depot prices rose sharply within 48 hours, squeezing marketers’ margins and heightening fears of further increases at filling stations.

In Lagos, the Dangote depot, known for offering relatively lower prices, sold petrol at ₦703 per litre on Friday, slightly up from ₦702.50 on December 31, 2025. Other depots, however, recorded steeper hikes. Eterna and Integrated depots adjusted their prices to ₦800 per litre, up from ₦726 per litre earlier in the week at Shellplux and AIPEC.

Aiteo and Lister depots also raised prices to ₦780 per litre, compared to the ₦750 to ₦760 range recorded on Wednesday. In Warri, another major petroleum hub, Matrix Energy and other depots sold petrol at ₦805 per litre on Friday, up from ₦800 two days earlier.

Industry analysts linked the rising prices to tighter supply chains and increased logistics costs. The situation was worsened by the temporary shutdown of the petrol processing unit at the Dangote Refinery, which had played a key role in domestic supply following fuel subsidy removal.

The Chief Executive Officer of PetroleumPrice.ng, Jeremiah Olatide, said importers were attempting to recover losses incurred after Dangote Refinery slashed prices in December.

“This price uptick is a deliberate move by importers to recoup losses from the massive price slash by the Dangote Refinery in December,” Olatide said.

He added that many depot owners were holding back supplies in anticipation of tighter availability in January. Private Depots Raise Petrol Prices

Depot price increases often signal higher pump prices, and marketers warn that petrol could soon sell above ₦700 per litre in several cities if current trends persist.