Diesel Prices Drop as Supply Floods Nigerian Depots(depotdat.ng)

Diesel prices drop sharply across Nigeria as supply overwhelms demand. Marketers in Lagos, Warri, Calabar and Port Harcourt aggressively slash prices to stay competitive, triggering a nationwide depot price war.

 

Despite a rebound in global crude oil prices, domestic diesel rates continue to fall. This signals that Nigeria’s local diesel market now responds more to supply pressure than international benchmarks.

 

Lagos Depots Slash Diesel Prices

In Lagos, 18 depots have dropped their Automotive Gas Oil (AGO) prices, some as low as ?923 per litre.

 

NIPCO: ?945

Bono, Eternal, Wosbab, Duport: ?930

T.Time, Chipet, Mao, Integrated, Ibeto, Ibachem, Africa Terminal: ?925–?928

Emadeb, Menj: ?923

Rain Oil: ?933

Pinnacle: ?932

Dangote: ?935

Gulf Treasure: ?928

These price drops reflect the impact of recent tanker discharges that have swelled fuel inventories across the Lagos axis. As marketers race to sell, consumers gain.

 

Warri Depots Match the Trend

In Warri, depot operators continue the downward slide, selling AGO between ?959 and ?962 per litre.

 

Optima, Zamson, Matrix, Shafa, Prudent: ?960

Edo Refinery: ?962

Parker, Pinnacle: ?959

Heavy fuel inflow from recent tanker activity has pressured depots to keep rates low to move stock quickly.

 

Port Harcourt and Calabar Hold Higher Ground

Port Harcourt’s Bulk Strategic depot still sells AGO at ?992, while Fynefield in Calabar holds the highest recorded price at ?1005 per litre. However, with lower-priced fuel entering neighboring zones, these figures may not last long.