Petrol depot prices in parts of Nigeria have climbed to ₦1,900 per litre, raising concerns about further increases in pump prices despite a discount introduced by the Nigerian National Petroleum Company Limited (NNPC).
The latest increases have affected several locations, including Port Harcourt, Lagos, Warri and Calabar, with depot prices varying across suppliers and regions.
The development could put additional pressure on motorists, transport operators and businesses already struggling with high operating costs.
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Petrol Depot Prices Rise Across Major Cities
Reports indicate that NIPCO increased its petrol depot price in Port Harcourt by ₦170, from ₦1,730 to ₦1,900 per litre. Other depots in the area were also reported to have adjusted their prices to similar levels.
In Lagos, some depot operators raised their prices to between ₦1,350 and ₦1,360 per litre, while prices in Warri reportedly reached ₦1,360 per litre.
In Calabar, Matrix increased its petrol depot price to ₦1,370 per litre.
The differences in prices across the locations reflect variations among suppliers and distribution costs. Depot prices are wholesale rates charged to marketers, while pump prices are the amounts motorists pay at filling stations.
NNPC Discount Fails to Halt Rising Costs
The latest increases have occurred despite an NNPC discount of ₦66 per litre, which was reportedly extended until October 31, 2026.
The discount is intended to provide some relief to consumers amid rising fuel costs. However, its impact may be limited as wholesale prices continue to fluctuate.
Reports have also indicated that access to the discounted rate may depend on the applicable payment method and other conditions, meaning that not every motorist will necessarily benefit in the same way.
Meanwhile, the rise in international crude oil prices has added pressure to fuel costs. Brent crude was reported at $104.50 per barrel on October 9, 2026, amid developments in the global oil market.
Higher international oil prices can increase the cost of refined petroleum products and influence domestic fuel pricing, although the final pump price also depends on other factors, including exchange rates, logistics and marketers’ margins.
Possible Impact on Transport Fares and Cost of Living
A sustained increase in petrol prices could lead to higher transportation costs, particularly if filling stations pass rising supply costs on to consumers.
Commercial transport operators may adjust fares to cover additional fuel expenses, while businesses that depend on petrol-powered vehicles and equipment could face higher operating costs.
The pressure could also spread to food distribution and other essential services if transportation and logistics expenses increase.
However, the extent of any impact will depend on how depot prices translate into retail prices and whether the increases persist.
What Nigerians Should Know
Although petrol depot prices have approached ₦1,900 per litre in parts of the country, the figure should not be interpreted as the prevailing pump price nationwide.
Retail prices can differ from one filling station to another because of supply arrangements, location, transportation expenses and individual pricing decisions.
Motorists are therefore advised to check prices at nearby filling stations rather than assume that the reported depot rates apply everywhere.
The latest development highlights the challenges of keeping petrol affordable while wholesale costs remain volatile, despite temporary discounts intended to ease the burden on consumers.
