Petrol depot prices see a 17% drop as marketers react to competition from Dangote Refinery, offering temporary relief amid rising international crude costs.

Petrol depot prices in Lagos fell to between N1,266 and N1,280 per litre, but pump prices remain as high as N1,325 in many filling stations in some areas.

Dangote Refinery may raise petrol prices as Brent crude nears $100 per barrel, increasing replacement costs and pressure across Nigeria’s downstream market.

Nigeria's petrol imports surged nearly 1,000% in Q2 2026, intensifying competition with local refineries like Dangote as the market faces contradictions.

Petrol depots across Lagos and Port Harcourt have released fresh PMS prices, with some suppliers increasing rates while others reduced or maintained existing prices.