Amid the increase in global crude oil prices, which inched toward $73 per barrel as of Tuesday, July 29, 2025, Dangote Refinery has increased its ex-depot prices by almost 7 percent.

The refinery reportedly halted petrol sales on Thursday, July 31, 2025, in anticipation of the price increase, prompting swift reactions from other depot operators.

Depot prices rise as Dangote leads

According to data from Petroleumpriceng, the petroleum product tracking platform, Dangote Refinery increased its ex-depot price from N825 per litre to N865.

The data shows price movements across depots nationwide, led by Dangote Refinery.

Other depot prices

FYNEFIELD: N900 per litre
MAINLAND OIL: N900 per litre
MENJ: N870 per littre
AIPEC: N870 per litre
A.A. RANO: N870 per litre
ZAMSON: N885 per litre
A&E: N888 per litre

Though the 650,000-barrel refinery has yet to release an official statement confirming the new price, experts have said the increase is inevitable, considering the increase in crude oil prices.

Experts predict further petrol price increases

Energy policy analyst, Adeola Yusuf, said the increase Adeola Yusuf said the increase was expected, adding, “Petroleum product prices are highly susceptible to changes in crude costs.

“Petroleum product price increases are highly susceptible to global crude oil prices. Any uptick in prices is immediately reflected in refinery products. So, the increase is not a surprise, he said.

Osas Igho, a financial analyst, stated that the new price is expected but will add to the hardship already faced by Nigerians.

“Yes, we expected a price increase, but Dangote and other importers should consider the plight of everyday Nigerians,” he said.

Crude oil prices fluctuate across markets Information from OilPrice.com shows that oil prices dipped to an average of $72 per barrel as of July 30, 2025.

According to the data, WTI sold at $68.7 per barrel, Brent Crude at $72.41, Murban sold at $75.59, and Bonny Light sold at $78.62 per barrel.

A prior report by Legit.ng disclosed that depot prices surged on Wednesday across Lagos, Warri, and Port Harcourt.

For example, Matrix in Port Harcourt moved from ₦840 to ₦845 per litre.

Warri’s Rainoil depot posted a notable ₦25/litre jump, from ₦830 to ₦855, suggesting localised supply strain.

Petrol prices across depots

Meanwhile, A&E and Parker depots in the same city recorded no change or slight decreases, reflecting uneven cost absorption.

Lagos-based depots also mirrored national shifts, though increases were modest.

Nipco adjusted from ₦818 to ₦825 (+0.86%), and Aiteo followed suit, rising from ₦815 to ₦822.

These upward adjustments highlight how depot operators are gradually factoring in higher input costs.

Dangote Refinery speaks on shutdown rumour

Legit.ng earlier reported that the management of the Dangote Refinery has firmly dismissed widespread rumours of an imminent shutdown at the company’s 650,000 barrels-per-day (bpd) complex in Lagos.

Reports suggesting a planned December turnaround for its key petrol-producing unit have been labelled inaccurate and illogical.

Speaking on behalf of the company, Edwin Devakumar, Executive Director at Dangote Industries, clarified that there are no plans to shut down the Residual Fluid Catalytic Cracker (RFCC) unit.