Depot owners across Lagos, Port Harcourt, Calabar and Warri cut petrol prices after Dangote Refinery reduced its ex-gantry price to N1,325 per litreDangote’s latest N25 reduction came just nine days after the refinery raised its petrol price by N85 per litreThe price adjustments coincided with a drop in global crude oil prices linked to fresh expectations of US-Iran diplomatic talksPAY ATTENTION: Mark Legit.ng as a preferred source, and our content will appear higher in your Google feed!Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.Depot owners across Nigeria have lowered the pump price of Premium Motor Spirit following Dangote Petroleum Refinery’s decision to cut its ex-gantry price by N25, from N1,350 to N1,325 per litre.The move came nine days after the refinery raised its petrol price by N85 on September 12, 2026, pushing the rate from N1,265 to N1,350. Petrol marketers announce new depot prices following Dangote Refinery’s latest price cut. Photo: Bloomberg Source: UGCThe latest reduction therefore only partially cancels that increase, with Dangote’s current price sitting N60 above its pre-September 12 level.PAY ATTENTION: From breaking news to viral moments. Follow Legit.ng on Instagram!Lagos depots lead the reductions**Data obtained from Petroluemprice.ng on Tuesday, September 22, showed widespread price cuts at Lagos depots.
ASCON, Integrated, and Sahara each trimmed their prices by N24, bringing rates down to N1,327 per litre. Pinnacle recorded a similar N24 cut, moving from N1,350 to N1,326. MRS dropped by N20 to settle at N1,332 per litre.Outside Lagos, several other depots followed suit. In Port Harcourt, Stockgap offered the lowest rate at N1,323, down N7, while Masters came in at N1,328, a N2 reduction.
Matrix held steady at N1,330. In Calabar, Mainland cut its price by N7 to N1,320, while Alkanes dropped N2 to N1,325. Sobaz bucked the trend, edging up N1 to N1,328.In Warri, Keonamex reduced its price by N3 to N1,327, Nepal fell N1 to N1,329, and Prudent cut N2 to reach N1,328. Matrix in Warri moved in the opposite direction, rising N3 to N1,330.Petrol prices record fresh changes nationwide Photo: AFP Source: Getty ImagesGlobal crude prices also easeThe domestic price adjustments came alongside a drop in international crude oil benchmarks, driven by growing expectations of diplomatic engagement between the United States and Iran.
Brent crude fell 3.34% to $100.40 per barrel, while West Texas Intermediate dropped 3.83% to $92.40 per barrel.Global crude prices are one of several factors shaping domestic petrol costs in Nigeria, alongside the naira exchange rate, logistics expenses, and individual depot operating costs.NNPC increases petrol priceEarlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) and other filling stations in Abuja increased the pump price of Premium Motor Spirit (PMS), also known as petrol.Checks showed that several filling stations adjusted their prices.The latest increase has been reflected in petrol prices across Abuja, with motorists now paying more at several filling stations.The latest adjustments mean that petrol prices are now above N1,300 at some filling stations in the nation’s capital. Source: Legit.ng Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master’s degree from the University of Lagos.
Fellow, MTN Pan African Media Innovation(2026), Member of the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng. Nigerian National Petroleum Corporation (NNPC)Aliko Dangote Petrol prices Germany Things girlfriend happy Mika kleinschmidt Frsc
