Fresh market data reviewed by Petroleumprice.ng shows that diesel (AGO) prices across Nigerian depots recorded an average increase of approximately 8.7 percent between Friday, March 27, and Monday, March 30, 2026, as global crude oil benchmarks continued their upward trajectory.
As of 3:00 p.m. WAT, Brent crude traded at $115.4 per barrel (+2.55%), while WTI stood at $102.5 (+2.90%), reinforcing cost pressures across the downstream value chain and triggering widespread repricing by depot owners and marketers.
Sharp Shift in Depot Averages
A comparative analysis of depot prices indicates that the average diesel price rose from about ₦1,727 per litre on March 27 to ₦1,877 per litre on March 30, reflecting a week-on-week increase of roughly ₦150 per litre.
On March 27, prices across key depots showed relative moderation:
- Port Harcourt: Bulk Strategic at ₦1,680
- Warri: ranged between ₦1,750 and ₦1,850
- Lagos: largely between ₦1,640 and ₦1,740
However, by March 30, a broad-based surge was recorded:
- Lagos: Bono, Integrated, Duport hovered around ₦1,845–₦1,850
- Nipco peaked at ₦1,875
- Dangote stood at ₦1,753
- Port Harcourt: Sigmund hit ₦2,000, Sahara at ₦1,850
- Warri: several depots, including Matrix and AYM Shafa, reached ₦2,000
Supply Pause Ahead of Price Spike
Market sources told Petroleumprice.ng that the upward adjustment did not come as a surprise.
Last week Friday, a significant number of importers and marketers halted sales and delayed loading activities, anticipating a sharp price increase driven by rising crude oil costs and tightening supply conditions.
This pause in trading activity contributed to reduced market liquidity, which amplified the price surge observed at the start of the new week.
Crude Rally Driving Market Repricing
The latest increase aligns with a sustained rally in global oil markets, where geopolitical tensions and supply disruptions have pushed crude prices above $110 per barrel in recent sessions.
Industry participants note that diesel pricing in Nigeria remains highly sensitive to international crude benchmarks, freight and insurance costs, foreign exchange pressures, and replacement cost dynamics.
With crude prices maintaining an upward trend, depot owners have continued to adjust prices aggressively to reflect anticipated replacement costs rather than existing stock levels.
Widening Price Dispersion Across Depots
The data also highlights a widening gap between depots, with prices now ranging from:
- ₦1,753 per litre (Dangote)
- to as high as ₦2,000 per litre (multiple depots in Warri and Port Harcourt)
This spread reflects differences in sourcing strategies, stock positions, and exposure to international supply chains.
Outlook
Market participants say the near-term direction of diesel prices will remain closely tied to global crude movements. With Brent holding above $115 and supply risks persisting, further upward adjustments cannot be ruled out, especially if import costs continue to rise.
For now, the latest 8.7 percent jump underscores the speed at which Nigeria’s downstream market is responding to global energy shocks, with traders increasingly positioning ahead of anticipated price movements rather than reacting after the fact.