Energy marketers in Nigeria have released new depot prices for petrol and diesel, reflecting global market changes and increased competition in the downstream sector. The adjustments, observed between June 1 and June 5, 2026, show mostly downward trends across Lagos, Warri, and Port Harcourt locations.
Petrol Prices in Lagos Depots
In Lagos, several depot owners slightly reduced their petrol prices. Pinnacle cut its price from N1,253 to N1,251 per litre, while A.A. Rano adjusted from N1,252 to N1,249. Aipec, African Terminal, and Integrated all reduced their prices from N1,251 to N1,248 per litre. Bono and NIPCO moved from N1,252 to N1,248 per litre respectively.
Diesel Prices in Lagos
Diesel prices in Lagos also saw reductions. NIPCO cut its diesel price from N1,705 to N1,700 per litre. Duport and Sahara reduced prices from N1,706 to N1,695 per litre. African Terminal, Bono, and MENJ brought prices down from N1,705 to N1,695 per litre. Ibeto reduced from N1,703 to N1,695, and Aipec adjusted from N1,703 to N1,697 per litre.
Warri Depot Prices
In Warri, petrol prices remained mostly stable. Matrix maintained its price at N1,265 per litre throughout the week. Parker adjusted slightly from N1,265 to N1,264, and Nepal moved from N1,265 to N1,263 per litre. Diesel in Warri decreased by N5 per litre, with Oil Rain adjusting from N1,710 to N1,705 per litre.
Port Harcourt Depot Adjustments
Port Harcourt witnessed notable petrol price reductions. Bulk Strategic cut its price from N1,284 to N1,275 per litre, and Liquid Bulk reduced from N1,285 to N1,275 per litre. Diesel prices also decreased slightly, with Sigmund moving from N1,720 to N1,718 per litre.
Global Crude Oil Impact
The price changes followed a drop in crude oil prices during the week to $90.54 per barrel, influencing local fuel costs.
Petrol Price Rise in April
Earlier reports indicated that the average retail price for petrol in April 2026 was N1,532.93, a 23.69% increase from N1,239.33 in April 2025. This also represented a month-on-month rise of 18.97% from March 2026. Yobe State recorded the highest average retail price at N1,599.05, followed by Edo (N1,595.74) and Bauchi (N1,589.07).
