Petrol Depot Prices Rise as Dangote Refinery Eyes Technical Upgrades

Marketers at various petroleum depots across Nigeria have pushed their ex-depot petrol prices to approximately N800 per liter. This adjustment represents a notable increase from the previous range of N740 to N780. The surge is largely attributed to news surrounding a planned maintenance and upgrade phase at the Dangote Refinery, which is expected to temporarily affect its gasoline-producing units.

Despite the increase at private depots like Ranoil and AYM Shafa, the Dangote Refinery and Aiteo have kept their rates at N702 and N740, respectively. However, the uncertainty has already impacted the retail market. Across major filling stations, consumers are finding petrol priced anywhere between N739 and N910 per liter. Industry leaders from the refinery have stated that this operational pause is necessary to “remove constraints” and optimize the facility, which has already been running at over 100 percent capacity in several areas.

This move toward “de-bottlenecking” is intended to enhance long-term production, even though it has caused short-term price volatility at the depots. As the market adjusts to the news, observers are closely watching how these technical upgrades will ultimately stabilize domestic fuel supply.