Truck traffic has surged across major private petroleum depots in Lagos as marketers scramble for petrol supplies following the fifth consecutive day of suspended loading at Dangote Petroleum Refinery, amid growing expectations that wholesale prices could rise when operations resume.
Dangote Refinery, which has become Nigeria's largest loading hub for petroleum products, suspended product loading five days ago, leaving marketers uncertain about when sales will resume and what the refinery's next pricing direction will be.
The prolonged suspension comes at a time when international crude oil prices have continued to strengthen, with Brent crude trading above $90 per barrel following renewed tensions in the Middle East. The rally has heightened concerns among downstream operators that any resumption of loading could be accompanied by a higher ex-depot price.
The uncertainty has prompted retail marketers and filling station owners to accelerate purchases from private depots despite significantly higher prices, in a bid to secure products before any further market adjustment.
Checks by Petroleumprice.ng on Monday showed unusually heavy truck activity across the Coconut, Dockyard and Satellite Town depot corridors in Lagos, where marketers have shifted their loading operations since Dangote halted product dispatch.
At the Coconut depot axis, roads leading into the depot cluster were heavily congested as petroleum tankers occupied both lanes while waiting to load products, creating one of the busiest truck movements recorded in recent weeks.
Market participants attributed the rush to marketers' efforts to build inventory ahead of any possible increase in wholesale prices once Dangote Refinery resumes loading.
The surge in demand has persisted despite private depot prices trading well above previous levels, indicating that product availability has become a more immediate priority for many buyers than current acquisition costs.
Industry operators said the current loading pattern reflects precautionary buying rather than panic, with marketers seeking to secure supplies before the market receives further clarity on Dangote Refinery's loading schedule and future pricing.
With the refinery remaining offline for loading operations, private depots have temporarily become the primary source of petrol supply for many marketers, resulting in unprecedented truck traffic across Lagos' major petroleum distribution corridors.