KEY POINTS
- Diesel prices have surged to about N1,700 per litre nationwide following a price increase by the Dangote refinery.
- Depot operators across Lagos, Warri, and Port Harcourt have adjusted prices upward in response to higher ex-depot rates and tight supply.
- Rising global crude oil prices and a temporary pause in refinery loading activities have intensified cost pressures and supply constraints.
Depot prices of Automotive Gas Oil, diesel, have surged sharply across Nigeria, climbing to as high as N1,700 per litre following a fresh price adjustment by the Dangote Petroleum Refinery.
The refinery increased its ex-depot price from N1,430 to N1,500 per litre on March 14, 2026.
This upward revision immediately triggered a ripple effect across the downstream sector, forcing marketers and depot operators to adjust their selling prices to reflect the new cost realities.
Market data indicates that the price change has significantly altered diesel pricing dynamics, particularly in major distribution hubs where supply chains are most active.
Depot Operators Adjust Prices Across Key Cities
Checks across major fuel distribution centres reveal widespread price increases. In key locations such as Lagos, Warri, and Port Harcourt, diesel prices have largely settled around N1,700 per litre, although some depots are selling slightly lower at about N1,650 depending on availability.
At the Warri hub, AYM Shafa adjusted its price to N1,700 per litre, while in Lagos, major depots including Aiteo and Obat Depot quoted similar rates. In Port Harcourt, Bulk Strategic Depot also aligned with the new pricing benchmark.
The uniformity of the increase across multiple regions highlights a coordinated market response to the refinery’s revised ex-depot pricing.
The price hike is further compounded by rising global crude oil prices, which continue to exert pressure on refining costs.
As of the latest market data, Brent crude traded at approximately $101.9 per barrel, while West Texas Intermediate hovered near $94.82 per barrel. Analysts note that the sustained increase in crude prices is raising operational costs for refiners, which are ultimately passed down to end-users through higher diesel prices.
This global trend has made it increasingly difficult for domestic fuel prices to remain stable, especially in a deregulated market environment.
The diesel price surge comes amid broader adjustments in Nigeria’s fuel market. Petroleum marketers have also released updated depot pricing templates for Premium Motor Spirit (petrol), reflecting changes across multiple locations.
The revised pricing follows a separate adjustment by the Dangote refinery, which set its petrol ex-depot price at N1,175 per litre, further underscoring ongoing volatility in the downstream oil sector.
