Lagos and Port Harcourt Petrol depots in Lagos and Port Harcourt are now selling below Dangote Petroleum Refinery’s new ₦1,300 per litre gantry price, with the lowest listed rate at ₦1,283.
Price checks on Tuesday, 3 November 2026, showed several depots had cut their wholesale rates by as much as ₦17 per litre under the refinery’s official price. The move points to sharper competition in the downstream market as operators fight to hold onto customers and raises the prospect of some relief for motorists already strained by high living costs.
Where Prices Have Fallen
Masters depot in Port Harcourt posted the lowest figure at ₦1,283 per litre ₦17 below Dangote’s gantry rate.
In Lagos, A.A. Rano listed petrol at ₦1,295, with another check showing ₦1,293. Nipco cut its Lagos depot price to ₦1,290, putting it ₦10 under the Dangote benchmark.
These are wholesale depot rates. They do not automatically equal what drivers pay at the pump, where transport, margins and station costs still apply.
Dangote Moves to Fixed Naira Pricing
The depot cuts came after Dangote Refinery dropped its earlier pricing link to the European gasoline benchmark. From midnight on 3 November, the refinery fixed its gantry price at ₦1,300 per litre and its coastal lifting rate at ₦1,676,250 per metric tonne.
Under the old system, swings in the European benchmark could feed through more often into local petrol prices. A fixed naira price is meant to give marketers more certainty when planning purchases and managing supply costs.
Will Pump Prices Follow?
Lower wholesale rates could ease costs for filling stations that lift fresh stock at the new levels. Any pass-through to motorists, however, may be delayed by transport expenses, distribution margins and fuel already held in inventory at higher prices.
With depot prices now in the ₦1,283–₦1,295 range in the locations checked, attention turns to major retail operators including NNPC Retail, MRS and independent marketers to see whether the wholesale reductions show up at the pump. For households and businesses facing high transport and operating costs, even a modest cut would be felt.
