July 10 (THEWILL) — Diesel prices have increased across major depots in Lagos, Port Harcourt and Warri, while petrol prices have remained largely stable amid sustained competition in Nigeria’s downstream petroleum market.
The latest mid-day depot price report showed that the increases in Automotive Gas Oil (AGO), commonly known as diesel, come despite concerns that renewed tensions in the Middle East could disrupt global oil markets and put pressure on domestic fuel prices.
In Lagos, African Terminal raised its diesel loading price by N50 to N1,500 per litre. Gulftreasure, Ibachem, Ibeto, and T.Time also quoted diesel at N1,500 per litre.
In Port Harcourt, Matrix increased its diesel price by N50 to N1,550 per litre, making it one of the highest-priced major depots for the product. In Warri, A.Y.M Shafa raised its price to N1,545 per litre from N1,500, while Prudent Energy maintained N1,550 per litre. Fynfield quoted diesel at N1,480 per litre in Calabar.
Unlike diesel, petrol prices remained relatively stable as competition among marketers and the Dangote Petroleum Refinery continued to moderate price movements.
In Lagos, Dangote Petroleum Refinery retained its ex-depot petrol price at N1,075 per litre, matching prices offered by Ardova, Nipco and Sahara. African Terminal and Aiteo raised their loading prices marginally to N1,075 per litre from N1,074.
Port Harcourt recorded stronger upward adjustments. Matrix increased its petrol price by N50 to N1,150 per litre from N1,100, while Nepal raised its price to N1,098 per litre from N1,080.
Optima increased its price to N1,100 per litre, while Prudent and Rain Oil also implemented upward adjustments.
Soroman maintained its petrol price at N1,100 per litre.
The pricing pattern reflects the growing regionalisation of Nigeria’s downstream market, with logistics costs, depot inventories, transportation expenses and local demand conditions increasingly influencing fuel prices across different parts of the country.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
