No More N1,300/Litre: Relief As Petrol Prices Drop, Marketers Announce New Rates

Petrol depot prices have dropped again across Nigeria’s key distribution hubs, with loading rates falling at several depots in Lagos, Port Harcourt and Warri amid sustained competition and improved product supply.

The fresh cuts, ranging from N5 to N25 per litre on Monday, July 27, were recorded at multiple depots nationwide

In Lagos, all six monitored depots lowered their ex-depot rates. Bulk Strategic trimmed its price from N1,260 to N1,250 per litre, while Liquid Bulk moved from N1,270 to N1,256, data from Petroleumprice.ng shows.

Masters dropped from N1,275 to N1,260, and Matrix reduced its rate from N1,270 to N1,255. Sigmund recorded the largest single cut in Lagos, shaving N20 off its price to settle at N1,250 per litre. T.S.L also lowered its loading price from N1,265 to N1,250.

Port Harcourt depots followed suit. Hong Petroleum reduced its ex-depot price from N1,255 to N1,246 per litre, while Mainland moved from N1,255 to N1,250. Northwest did not publish a current loading price.

In Warri, Optima posted the biggest single reduction across all three cities, cutting its price by N25 from N1,270 to N1,245 per litre. Matrix in Warri also reduced its rate by N24 to N1,246, and Rain Oil trimmed its loading price by N5 to N1,268 per litre.

Below is a snapshot of current ex-depot prices: Snapshot of petrol depot prices on Monday at depots

LAGOS

Bulk Strategic – N1,250/litre

Liquid Bulk – N1,256/litre

Masters – N1,260/litre

Matrix – N1,255/litre

Sigmund – N1,250/litre

T.S.L – N1,250/litre

PORT HARCOURT

Hong Petroleum – N1,246/litre

Mainland – N1,250/litre

WARRI

Optima – N1,245/litre

Matrix – N1,246/litre

Rain Oil – N1,268/litre

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