Dangote Refinery has reduced its petrol depot price to N1,290 per litre, making it the cheapest supplier among the major depots reviewed in Lagos as fuel marketers adjust their rates.
The latest price data for Thursday, October 29, 2026, showed that the refinery lowered its rate by N18 from the previous N1,308 per litre.
Also read: Dangote refinery IPO draws investors from 120 countries
The reduction puts Dangote ahead of other major depot operators, including Pinnacle and Rainoil, which also reduced their prices by N20 to N1,300 per litre.
According to data published by Petroleumprice.ng, MRS and NIPCO currently sell petrol at N1,310 per litre, while African Terminal reduced its price by N12 to N1,307.
Aiteo maintained its previous rate of N1,317 per litre.
Depot prices represent the rates at which suppliers sell petrol to marketers. They may differ from pump prices at filling stations because of transportation expenses and retailers’ operating costs.
| Depot | Previous price | Current price | Change |
|---|---|---|---|
| Dangote | N1,308 | N1,290 | -N18 |
| Pinnacle | N1,320 | N1,300 | -N20 |
| Rainoil | N1,320 | N1,300 | -N20 |
| African Terminal | N1,319 | N1,307 | -N12 |
| MRS | N1,324 | N1,310 | -N14 |
| NIPCO | N1,320 | N1,310 | -N10 |
| Aiteo | N1,317 | N1,317 | No change |
In Port Harcourt, Bulk Strategic and Masters reduced their petrol prices by N8 each, bringing their rates down from N1,333 to N1,325 per litre.
Matrix also lowered its price by N7, from N1,335 to N1,328 per litre, while T.S.L maintained its rate at N1,325.
| Depot | Previous price | Current price | Change |
|---|---|---|---|
| Bulk Strategic | N1,333 | N1,325 | -N8 |
| Masters | N1,333 | N1,325 | -N8 |
| Matrix | N1,335 | N1,328 | -N7 |
| T.S.L | N1,325 | N1,325 | No change |
In Calabar, Matrix reduced its petrol price by N6 to N1,332 per litre, while Northwest lowered its rate by N5 to N1,335.
Soroman, however, retained its previous price of N1,330 per litre.
| Depot | Previous price | Current price | Change |
|---|---|---|---|
| Matrix | N1,338 | N1,332 | -N6 |
| Northwest | N1,340 | N1,335 | -N5 |
| Soroman | N1,330 | N1,330 | No change |
The figures indicate that Dangote Refinery recorded the lowest listed depot price across the three locations at N1,290 per litre, while Northwest in Calabar had the highest rate at N1,335.
Also read: Dangote refinery IPO draws investors from 120 countries
The latest adjustments reflect a downward movement in petrol depot prices in the three cities, although the actual prices paid by motorists may vary depending on the location and pricing decisions of individual filling stations.
David Okere is a journalist and contributor to Freelanews.com, covering business, governance, public affairs, and human-interest stories with a commitment to accuracy, balance, and public interest reporting.
