Petrol prices at filling stations across Nigeria have remained above N1,300 per litre despite lower prices recorded at major fuel depots, creating a wide gap between wholesale and retail rates.
The development was observed on Tuesday, September 8, 2026, as depot prices in Lagos dropped to between N1,266 and N1,280 per litre, while motorists in parts of Lagos and Abuja continued to buy petrol for as much as N1,325 per litre.
Dangote Refinery and Pinnacle were among the cheapest suppliers in Lagos, with their petrol priced at N1,266 per litre.
MRS sold at N1,267, while Aiteo, Integrated and Sahara offered the product at N1,270 per litre. Ascon and NIPCO had their prices at N1,280 per litre.
The lowest depot price of N1,266 was therefore N44 below the lowest retail price of about N1,310 recorded at some filling stations.
This has raised concern among consumers who expect lower wholesale prices to eventually lead to cheaper petrol at the pumps.
The situation was also seen in other parts of the country. In Calabar, depot prices ranged from N1,280 per litre at Mainland to N1,300 at Fynefield, while Matrix supplied petrol at N1,290 per litre.
In Warri, Nepal and Optima sold at N1,275 per litre. Parker and Prudent were at N1,280, while A.Y.M. Shafa and Matrix offered the product at N1,287 and N1,290 respectively.
Some depot operators also adjusted their prices downward during the day.
Integrated and Sahara in Lagos reduced their prices by N9 per litre, bringing them to N1,270. Lister also cut its rate by N3 to N1,277 per litre.
Warri recorded further reductions from several suppliers.
Bulk Strategic, Liquid Bulk and Masters reduced their prices by N10 per litre, while Matrix lowered its rate by N5. Rain Oil recorded a N20 reduction, bringing its price down to N1,280 per litre.
The difference between depot and filling station prices has brought renewed attention to the costs added to petrol after it leaves the depot.
These include transportation, storage, loading, handling and other distribution expenses before the product reaches consumers.
Industry operators also noted that filling stations do not always purchase petrol under the same commercial conditions. Differences in supply arrangements, distance from depots, transportation charges and the cost of running individual stations can affect the final pump price.
However, the continued difference between depot rates and retail prices has left motorists waiting to see whether the recent reductions will be passed on to consumers.
With petrol in several Lagos depots selling around N1,266 to N1,280 per litre, consumers are looking for signs that the lower wholesale prices will bring some relief at filling stations. If depot prices continue to fall and distribution costs remain stable, motorists could begin to see reductions in pump prices in the coming days.
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