Dangote Petroleum Refinery may be forced to review its petrol and diesel prices again as intensifying competition among Lagos depots pushes loading rates below the refinery's current ex-depot prices, according to market data obtained by Petroleumprice.ng and a source within the refinery.
Pricing data reviewed on June 1, 2026, showed widespread reductions across both Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), with several depot operators adjusting rates multiple times during the day in an effort to remain competitive.
The latest pricing trend comes despite Dangote Refinery maintaining one of the most competitive diesel prices in the market. The refinery's AGO loading price stood at ₦1,701 per litre, while its PMS price was reviewed to ₦1,253 per litre.
However, private depots have moved swiftly to narrow the gap.
In the petrol market, Aiteo, African Terminal, Integrated, Aipec and Ardova reviewed their PMS prices downward to ₦1,251 per litre, placing them below Dangote Refinery's ex-depot price of ₦1,253 per litre.
Other marketers, including Bono, Quest and Ascon, traded at ₦1,252 per litre, while Techno Oil sold PMS at ₦1,254 per litre.
The diesel segment witnessed a similar wave of price reviews.
While Dangote remained the lowest-priced major supplier at ₦1,701 per litre, several competing depots responded with rapid adjustments. Ibeto and Aipec reduced AGO prices to ₦1,703 per litre, Swift quoted ₦1,704 per litre, while African Terminal, Duport, Nipco and Menj reviewed prices to ₦1,705 per litre.
A source within Dangote Petroleum Refinery told Petroleumprice.ng that the refinery could consider a fresh price review if competing depots continue to maintain lower loading rates.
"Depot prices are now slightly below ours. If anything, we might go down if those depot prices remain lower," the source said.
The development comes amid growing competition in Nigeria's downstream petroleum sector, driven partly by increased product availability and the return of imported fuel supplies into the domestic market.
Recent import allocations have expanded sourcing options for marketers, increasing competition between imported products and locally refined supplies. The additional volumes entering the market have intensified the battle for customers, compelling suppliers and depot operators to closely monitor competitors' pricing strategies.
Industry stakeholders say marketers are increasingly making purchasing decisions based on price, product availability and logistics efficiency. Consequently, even relatively small price differences are becoming important in securing product offtake.
While Dangote Refinery remains among the most competitively priced suppliers in both the PMS and AGO segments, the narrowing gap between its prices and those offered by rival depots suggests that competition will continue to play a significant role in shaping pricing decisions across the downstream petroleum market in the coming weeks.