17th of July, 2027

Petroleum Products price hiking is looming against across Nigeria

Depot Petrol Hits Highest ₦1,250 (Up ₦113), Diesel to Highest ₦1,650 (Up ₦150) After Dangote Switches to Dollar-Only Sales

Ex-depot prices of petroleum products across major Nigerian terminals surged following Dangote Petroleum Refinery’s switch to dollar-only sales, pushing petrol up by as much as ₦113 per litre and diesel by up to ₦150 per litre.

Effective July 13, Dangote Refinery began selling exclusively in US dollars, requiring marketers to pay in foreign currency for gantry and coastal liftings. All prior naira invoices were cancelled. The new reference prices are $0.779 per litre for petrol, $1.087 per litre for diesel, and $0.942 per litre for aviation fuel.

Old versus new ex-depot prices at major independent depots:

Matrix increased its petrol loading price from ₦1,120 to ₦1,230 per litre, a ₦110 increase

Sahara, AIPEC, and African Terminal: Petrol moved from ₦1,090 to ₦1,120 per litre

Matrix Depot raised the loading price of petrol from ₦1,137 to ₦1,250 per litre
₦113 increase.

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