Petrol depot prices fall in Lagos as Dangote holds firm (opens original article in a new tab)

Petrol and diesel prices declined in Lagos depots amid competitive market dynamics, with Rain Oil leading cuts and Dangote maintaining stable prices, while regional variations showed some price increases.

• Petrol prices in Lagos depots fell by up to N18 per litre as Rain Oil led reductions
• Diesel prices dropped by up to N70 per litre in some Lagos and Port Harcourt locations
• Dangote Refinery maintained stable petrol prices in Lagos, with a N1 increase per litre
• Regional variations seen as some terminals in Port Harcourt and Calabar raised prices
• Competitive market dynamics and increased domestic refining capacity influence price adjustments
• Retail pump prices depend on depot reductions and marketer costs