- Petrol depot prices increased across most major markets in Nigeria between August 17 and 21, 2026, driven by rising crude oil prices and supply concerns around the Strait of Hormuz.
- Calabar recorded the biggest increase, with Mainland’s price rising by N33 per litre, while Port Harcourt and Lagos also recorded notable increases
- Dangote Refinery also raised its petrol price by N20 to N1,185 per litre and AGO by N100 to N1,670, increasing pressure on local fuel prices
Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy.
Petrol depot prices increased in most major Nigerian markets between Monday, August 17 and Friday, August 21, 2026, as rising international crude prices and supply concerns linked to the Strait of Hormuz put pressure on the downstream market.
According to Petroleumprice.ng, PMS prices rose across most depots in Lagos, Port Harcourt and Calabar, while Warri recorded mixed movements.
Source: UGC
International crude prices traded close to $95 per barrel amid the ongoing Hormuz crisis, raising concerns about supply and replacement costs.
Lagos, Port Harcourt and Calabar record increases
In Lagos, all tracked depots recorded increases. MRS Tincan posted the biggest rise of N25 per litre, moving from N1,167 to N1,192, while Pinnacle rose by N23 to N1,190. Pivot moved from N1,180 to N1,200, while Integrated and African Terminal increased to N1,198.
Port Harcourt also recorded strong increases. Liquid Bulk and Sigmund rose by N28 each to N1,218 per litre, while Bulk Strategic increased by N25 to N1,215.
Calabar recorded the biggest gains, led by Mainland, which rose by N33 from N1,180 to N1,213. Soroman and Sobaz increased by N32 each, while Northwest gained N28. Fynefield was unchanged at N1,220, while Matrix rose by N15.
Warri was mixed, with Matrix and Nepal rising by ₦15 each to N1,215, while Rain Oil and Parker fell by N5 to N1,215 and N1,195 respectively.
Dangote price increase adds pressure
The market is also adjusting to a fresh price increase by Dangote Petroleum Refinery, which raised its PMS gantry price by N20 from N1,165 to N1,185 per litre.
Source: UGC
The refinery also increased its AGO price by N100, from N1,570 to N1,670 per litre.
With crude prices nearing $95 per barrel and supply concerns around the Strait of Hormuz unresolved, marketers may remain cautious about replacement costs, increasing the possibility of further adjustments in local depot prices.
NNPC releases new petrol prices
Meanwhile, Legit.ng earlier reported that the Nigerian National Petroleum Company Limited (NNPCL) announced a reduction in the retail pump price of petrol across some parts of the country.
The latest reduction marked the second drop in petrol prices in as many weeks, following recent changes in the global crude oil market.
In Lagos, the price of petrol was reduced from N1,210 to N1,170 per litre, while, motorists in Abuja are now paying N1,210 per litre, down from the previous price of N1,260 per litre at NNPCL stations.
Source: Legit.ng
