Petrol Price Hits 1900 Naira Per Litre

Petrol depot prices have risen to N1,900 per litre in parts of Nigeria, raising concerns about further increases in the cost of the product, according to a report by Vanguard on October 10, 2026. Several depots increased their prices across Lagos, Port Harcourt, Warri and Calabar.

NIPCO led the latest increases in Port Harcourt. The company has raised its petrol price by N170 from N1,730 to N1,900 per litre. Six other depots, including African Terminal, Ascon, Eterna, Gulf Treasure, Ibachem and Ibeto, also increased their prices from N1,750 to N1,900 per litre. Duport and Integrated raised their prices to N1,806 per litre.

In Lagos, Masters increased its petrol price to N1,350 per litre from N1,303. Meanwhile, Matrix raised its price to N1,360 from N1,330. In Calabar, Matrix sold petrol at N1,370 per litre, while several depots in Warri increased their prices to N1,360.

At the retail level, NNPC sold petrol at N1,360 per litre in Lagos and surrounding areas. MRS charged N1,338, while 11 Plc sold the product at N1,338.80. similarly, independent marketers charged between N1,368 and N1,400 per litre, depending on location.

Diesel prices also recorded significant increases in Warri. Rain Oil and Matrix raised their prices by N180 to N1,900 per litre. In Port Harcourt, Dangote increased its diesel price to N1,720, while Masters raised its price to N1,825.

The increases could raise operating costs for manufacturers, transport operators and businesses that depend on diesel for transportation and electricity generation. 

It should be noted that Brent crude rose to $104.50 per barrel from $104.28. Meanwhile the United States benchmark, West Texas Intermediate, increased to $91.73 from $91.49.

The Chief Executive Officer of Petroleumprice.ng, Olatide Jeremiah, told newsmen that Nigeria’s downstream petroleum sector would continue to respond to developments in the global oil market. It should be noted, however, that domestic price increases could also reflect supply conditions, transportation expenses and marketers’ pricing decisions.

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