Lagos Depot Petrol Hits N1,275 a Litre as Marketers Resume Loading After 1-Week Disruption
Updated
Updated · Punch Newspapers · Jul 22
Lagos Depot Petrol Hits N1,275 a Litre as Marketers Resume Loading After 1-Week Disruption
3 articles · Updated · Punch Newspapers · Jul 22
Summary
Private depots in Lagos resumed petrol and diesel loading after nearly a week of disruption, with marketers returning even as some filling stations stayed cautious about dispensing.
N1,275 per litre became the new petrol loading price at many Lagos depots on Tuesday—up N25—as operators paused earlier to reset prices and demand top-up payments from marketers who bought before the increase.
Chinedu Ukadike of the Independent Petroleum Marketers Association said the stoppage reflected price volatility rather than an imminent scarcity, adding that depot owners do not refund buyers when prices later fall.
Dangote Refinery’s shift to dollar-denominated petrol sales is still clouding the market: Ukadike said offshore and coastal cargoes are paid in dollars, but he could not confirm dollar payments for gantry loading in Lekki.
Outside Lagos, depot prices were mixed, with some cuts in Port Harcourt and Calabar, but the broader trend remains higher fuel costs for marketers and consumers nationwide.