See the petrol and diesel depot prices nationwide amid NNPC's cost increase

• Depot owners person hiked the prices of petrol nationwide, which has caused a spike astatine the pumps
• Industry information shows that crude lipid prices surged connected Monday, June 23, 2024, selling astatine $77.88 for Brent crude per tube earlier moderating
• Analysts person blamed the depot terms hikes connected rising demand, loading and logistics costs nationwide

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the system for implicit a decade.

Oil marketers person raised the depot prices of PMS pursuing rising request and crude lipid terms spikes caused by the Middle East tension.

New petrol and diesel prices look astatine depots arsenic crude lipid prices rise. Credit: Bloomberg/Contributor
Source: Getty Images

As of Monday, June 23, 2025, Brent crude sold astatine $77.88 per tube and WTI astatine $74.67, with depot owners nationwide already adjusting prices upwards.

Depot prices successful Lagos, Calabar and different areas

However, caller information shows that crude lipid prices slumped connected Tuesday, June 24, 2025, arsenic the US announced a ceasefire betwixt Iran and Israel.

According to accusation from Petroleumpriceng, depot prices for petrol and diesel changeable up and are acceptable to summation further this week if the ongoing Middle East hostility continues.

As of June 20, 2025, depot prices successful Lagos indicated pump terms increases astatine N880 for petrol and N1,055 for diesel, respectively.

According to reports, NIPCO sold its petrol astatine N920 and diesel astatine N1,100 per litre, portion WOSBAB’s terms was fixed astatine N920 for PMS and N1,050 for diesel.

At the Warri depots, Matrix Energy sold petrol and diesel astatine N925 and N1,05O per litre, respectively, portion petrol astatine A&E was sold astatine N920.

Mainland successful Calabar sells its petrol prices astatine N935 per litre, portion Fynfield sells astatine N928.

In Port Harcourt, depot owners, specified arsenic Bulk Strategic, sold their diesel astatine N1,100 per litre, portion Sigmund sold petrol astatine N930.

Crude lipid prices spike globally

Due to this, risks person returned to lipid trading, with buyers factoring successful worst-case scenarios.

Energy experts person disclosed that the ongoing Middle East hostility has continued to make uncertainty successful lipid supplies.

“The volatility successful substance prices is evidently owed to the Middle East crisis. Petrol prices are susceptible to planetary crude lipid prices. Nigeria is not exempt from planetary shocks caused by crude instability,” Policy vigor analyst, Adeola Yusuf, said."Hopefully, with the ceasefire agreed betwixt Israel and Iran, crude lipid prices tin statesman to mean and bespeak connected home substance prices,” helium said.

Dangote Refinery imports crude

Also, the terms summation by Dangote Refinery affected depot prices.

The refinery has imported implicit 17 cardinal barrels of crude lipid successful the past 4 months owed to home proviso shortfalls.

NNPC releases caller petrol prices nationwide aft Dangote's actions. Credit: Bloomberg/Contributor
Source: UGC

Aliko Dangote, Chairman of the Dangote Group, blamed insufficient home supplies arsenic the crushed for importing crude lipid mostly from the US.

The naira crashes successful FX markets

Additionally, forex and logistics costs person present been added to ex-depot pricing.

Data from the parallel conception of the Nigerian overseas speech marketplace shows that the naira traded astatine N1,605 per dollar, which affected imported petroleum merchandise prices.

Depot owners are present adjusting prices to bespeak transport, handling, and organisation costs, particularly arsenic loading unit intensifies astatine different jetties nationwide.

Additionally, autarkic marketers are revising loading and downstream logistics costs, particularly for the North.

With Dangote PMS astatine ₦880, Matrix Warri astatine ₦925, and Mainland Calabar astatine ₦935 depot-level, prices are rapidly filtering via the retail segment.

Full database of NNPC's caller petrol prices

Legit.ng earlier reported that retail outlets nether the Nigerian National Petroleum Company Limited (NNPC) person raised their pump prices to N945 per litre successful Abuja, effectual Monday, June 23, 2024.

They besides adjusted their petrol prices to N915 per litre successful Lagos, marking a caller upward terms review.

The authorities lipid firm’s terms reappraisal follows a akin summation by Africa’s largest Dangote Refinery, connected Friday, June 20, 2025.

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Source: Legit.ng