SHOCKER: Dangote Reveals New Petrol Prices Amid Global Oil Price Surge

May 3, 2026 Mcebisco Latest News

Oil marketers have adjusted depot prices of Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (AGO), commonly called diesel, following a fresh price hike by the Dangote Refinery.

Dangote refinery raised its ex-depot petrol price by N75 to N1,275 per litre from N1,200, while coastal prices increased to about N1,215 per litre.

Ex-depot is the price paid by marketers before distribution to retail outlets.

In Lagos, PMS prices rose to a range of about N1,279 to N1,300 per litre. A.A Rano and Ascon increased by N76 to N1,280, while Bono and Integrated gained N75. Rain Oil recorded the largest jump, from N80 to N1,300.

Warri recorded the steepest increases, with Matrix rising by N105 to N1,335 per litre. Prudent, Optima, and Nepal each climbed by N97 to N1,325.

In Port Harcourt, Masters increased by N98 to N1,328, while Liquid Bulk rose by N95 to N1,325, aligning with national pricing trends.

Calabar saw moderate increases, with Soroman rising by N82 to N1,312 per litre.

Diesel price movements

Diesel (AGO) prices also trended upward across depots, reflecting strong industrial demand and supply constraints.

In Lagos, Nipco rose by N70 to N1,940, while TMDK held steady at N1,950.

Warri recorded mixed movements, with Matrix increasing by N50 to N2,100 and A.Y.M Shafa jumping by N150, while Prudent reduced prices by N50.

In Port Harcourt, diesel prices crossed the N2,000 mark in some depots, as Sigmund rose by N150 to N2,100 and Bulk Strategic increased by N75 to N2,000.

Calabar also saw sharp increases, with Northwest rising by N150 to N1,985, approaching N2,000 per litre.

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