Fuel Prices Rise Yet Again at Petrol Stations
Petrol prices in Nigeria have seen a significant increase, with many filling stations charging between ₦900 and ₦1,000 per litre. This surge is primarily due to an upward adjustment in ex-depot prices by Dangote Refinery and other depot owners.
As of early August 2025, Dangote Refinery's ex-depot price stands at around ₦858 per litre. Other depot operators, such as NIPCO, Aiteo, and Ranoil, have priced their ex-depot petrol between ₦855 and ₦870 per litre. This increase has led to retail prices rising at filling stations across the country.
In the bustling city of Abuja, Ranoil filling station has increased its petrol price to ₦970 per litre, up from ₦900 on Friday night. Similarly, As of Saturday morning, Empire Energy filling station increased its petrol price to ₦935 per litre, up from ₦905 on Friday night.
However, not all filling stations in Abuja have followed suit. Nigerian National Petroleum Company and MRS, Optima, and AP Ardova filling stations are still dispensing petrol at ₦890 and ₦885 per litre, respectively.
The recent price hike is attributed to several factors, including exchange rate fluctuations impacting depot costs, the price of imported crude oil, and global oil price dynamics despite ongoing OPEC+ production hikes.
While some stations still sell petrol below ₦900, others, including notable stations in Lagos and Ogun, have prices as high as ₦900 or above. Some filling stations have increased prices to nearly ₦1,000 per litre, leading to complaints and blame-shifting among marketers, retailers, and depot owners.
However, market competition from independent fuel importers is also influencing prices locally, causing some variation. In some areas, these importers are undercutting Dangote Refinery prices, offering petrol below ₦860 per litre at select stations.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has attributed the latest petrol price hike to an ex-depot price increase by Dangote Refinery and depot owners in Nigeria. Spokesman of IPMAN, Chinedu Ukadike, confirmed this development.
As the situation continues to evolve, consumers are advised to monitor petrol prices at their local filling stations and consider alternative transportation options where possible to manage costs.
[1] Nairametrics (2025). Petrol prices hit ₦900 in Lagos, Abuja, as Dangote Refinery increases ex-depot price. Retrieved from https://www.nairametrics.com/petrol-prices-hit-900-in-lagos-abuja-as-dangote-refinery-increases-ex-depot-price/
[2] BusinessDay (2025). Petrol price hike: Dangote Refinery, depot owners increase ex-depot prices. Retrieved from https://www.businessdayonline.com/petrol-price-hike-dangote-refinery-depot-owners-increase-ex-depot-prices/
[3] Premium Times (2025). Petrol prices soar in Nigeria, reach nearly ₦1,000 per litre. Retrieved from https://www.premiumtimesng.com/business/petrol-prices-soar-in-nigeria-reach-nearly-1000-per-litre/
[4] ThisDay (2025). Some importers undercut Dangote Refinery prices, offer petrol below ₦860 per litre. Retrieved from https://www.thisdaylive.com/business/some-importers-undercut-dangote-refinery-prices-offer-petrol-below-860-per-litre/
- The ex-depot price of petrol by Dangote Refinery in Nigeria is currently around ₦858 per litre, while other depot operators such as NIPCO, Aiteo, and Ranoil price their petrol between ₦855 and ₦870 per litre.
- In response to this price hike, some filling stations in Abuja, like Ranoil and Empire Energy, have increased their petrol prices to ₦970 and ₦935 per litre respectively.
- However, some filling stations in Abuja, including Nigerian National Petroleum Company and MRS, Optima, and AP Ardova, are still selling petrol at ₦890 and ₦885 per litre respectively.
- The recent increase in petrol prices is due to several factors including exchange rate fluctuations, the price of imported crude oil, global oil price dynamics, and an ex-depot price increase by Dangote Refinery and other depot owners in Nigeria, as attributed by the Independent Petroleum Marketers Association of Nigeria (IPMAN).
