Dangote Refinery Hikes Petrol Ex-Depot Price to N865/Litre
- Dangote Refinery has increased its ex-depot prices from N825 per litre following the rise in crude oil prices
- Also, other depot owners have joined the mega refinery to raise their prices by almost seven per cent
- Energy experts say the price was expected, as the international crude oil price surged this week to almost $73 per barrel
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Amid the increase in global crude oil prices, which inched toward $73 per barrel as of Tuesday, July 29, 2025, Dangote Refinery has increased its ex-depot prices by almost 7 per cent.
The refinery reportedly halted petrol sales on Thursday, July 31, 2025, in anticipation of the price increase, prompting swift reactions from other depot operators.
Source: UGC
Depot prices rise as Dangote leads
According to data from Petroleumpriceng, the petroleum product tracking platform, Dangote Refinery increased its ex-depot price from N825 per litre to N865.
The data shows price movements across depots nationwide, led by Dangote Refinery.
Other depot prices
- FYNEFIELD: N900 per litre
- MAINLAND OIL: N900 per litre
- MENJ: N870 per littre
- AIPEC: N870 per litre
- A.A. RANO: N870 per litre
- ZAMSON: N885 per litre
- A&E: N888 per litre
Though the 650,000-barrel refinery has yet to release an official statement confirming the new price, experts have said the increase is inevitable, considering the increase in crude oil prices.
Experts predict further petrol price increases
Energy policy analyst, Adeola Yusuf, said the increase Adeola Yusuf said the increase was expected, adding, “Petroleum product prices are highly susceptible to changes in crude costs.
“Petroleum product price increases are highly susceptible to global crude oil prices. Any uptick in prices is immediately reflected in refinery products. So, the increase is not a surprise, he said.
Osas Igho, a financial analyst, stated that the new price is expected but will add to the hardship already faced by Nigerians.
“Yes, we expected a price increase, but Dangote and other importers should consider the plight of everyday Nigerians,” he said.
Crude oil prices fluctuate across markets
Information from OilPrice.com shows that oil prices dipped to an average of $72 per barrel as of July 30, 2025.
According to the data, WTI sold at $68.7 per barrel, Brent Crude at $72.41, Murban sold at $75.59, and Bonny Light sold at $78.62 per barrel.
A prior report by Legit.ng disclosed that depot prices surged on Wednesday across Lagos, Warri, and Port Harcourt.
For example, Matrix in Port Harcourt moved from N840 to N845 per litre.
Warri’s Rainoil depot posted a notable N25/litre jump, from N830 to N855, suggesting localised supply strain.
Petrol prices across depots
Meanwhile, A&E and Parker depots in the same city recorded no change or slight decreases, reflecting uneven cost absorption.
Lagos-based depots also mirrored national shifts, though increases were modest.
Source: Getty Images
Nipco adjusted from N818 to N825 (+0.86%), and Aiteo followed suit, rising from N815 to N822.
These upward adjustments highlight how depot operators are gradually factoring in higher input costs.
Dangote's impact on petrol price
The Dangote Refinery’s impact on petrol prices in Nigeria has been significant.
Since its commencement, it has driven a competitive price war by slashing its ex-depot price from what was obtainable from other depots and thereby forcing NNPC to respond by reducing its retail price as well.
This aggressive strategy has dismantled import dependence, improved market efficiency, and delivered meaningful relief to consumers.
Many have praised these cuts as timely relief amid high living costs, highlighting benefits like lower transport and commodity prices.
While global crude costs still influence prices, the refinery consistently absorbs portions of that rise to shield consumers.
Overall, Dangote has reset market dynamics, triggering competition and delivering real impact on petrol affordability in Nigeria.
Dangote Refinery speaks on shutdown rumour
Legit.ng earlier reported that the management of the Dangote Refinery has firmly dismissed widespread rumours of an imminent shutdown at the company’s 650,000 barrels-per-day (bpd) complex in Lagos.
Reports suggesting a planned December turnaround for its key petrol-producing unit have been labelled inaccurate and illogical.
Speaking on behalf of the company, Edwin Devakumar, Executive Director at Dangote Industries, clarified that there are no plans to shut down the Residual Fluid Catalytic Cracker (RFCC) unit.
This article has been updated by the head of business desk, Victor Enengedi, with additional information.
Source: Legit.ng
