Petrol Prices Rise Despite Lower Crude Costs, Port Harcourt Depot Hits ₦1,735/Litre

Petrol prices increased across parts of Nigeria despite a slight decline in global crude oil prices. Major marketers, including MRS, NNPC and Ardova, reportedly raised retail prices to about ₦1,205 per litre, while some outlets sold above ₦1,212 per litre. Depot prices were significantly higher in Port Harcourt, where Prudent Depot reportedly quoted ₦1,735 per litre. Several other depots in the city sold between ₦1,668 and ₦1,732 per litre. Lagos depot prices were mostly between ₦1,200 and ₦1,207 per litre. Industry sources linked the disparity to logistics, supply conditions and location. Analysts also said Dangote Refinery's pricing decisions could continue to shape the domestic petrol market because of its large share of local supply.

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