Depot prices of Automotive Gas Oil (diesel) have surged to as high as ₦1,700 per litre across major supply hubs after the Dangote Petroleum Refinery increased its ex-depot price to ₦1,500 per litre.
Market sources told Petroleumprice.ng that the refinery adjusted its diesel price upward on Saturday, March 14, 2026, raising the rate from ₦1,430 per litre to ₦1,500 per litre. The increase has since triggered immediate reactions across private depots, with marketers revising their selling prices to reflect the new supply cost.
Checks on March 16, 2026 show that several depot operators have raised diesel prices to ₦1,700 per litre, while others are selling slightly lower at around ₦1,650 per litre, depending on location and stock availability.
At the Warri depot, AYM Shafa was observed selling diesel at ₦1,700 per litre as of Monday.
In Lagos, depot data monitored by Petroleumprice.ng shows that Aiteo fixed its price at ₦1,700 per litre, while Obat Depotalso quoted ₦1,700 per litre for diesel.
Similarly, in Port Harcourt, Bulk Strategic Depot adjusted its diesel price to ₦1,700 per litre, reflecting the broader market reaction to the refinery’s new pricing structure.
At another Warri supply hub, Matrix Depot was also seen selling diesel at ₦1,700 per litre, indicating a uniform upward adjustment across multiple regional distribution centres.
Industry sources said the increase follows a sharp rise in global crude oil prices, which directly affects refining costs. As of 2:30 p.m., Brent Crude was trading at about $101.9 per barrel, while West Texas Intermediate Crude stood near $94.82 per barrel.
Sources familiar with operations at the Dangote refinery also disclosed that loading activities for marketers have been temporarily suspended to allow for reconciliation and enable buyers to top up payments in line with the new refinery price.
The temporary halt in loading has further tightened supply in the depot market, prompting private depot operators to quickly adjust their diesel prices upward as they align with the refinery’s revised ex-depot rate.