Fuel Importers to Hike Depot Price to ₦1,350 per Litre from July 17

Fuel importers have notified marketers that the depot price of petrol will rise from ₦1,230 to ₦1,350 per litre. The new rate takes effect on July 17. This follows higher costs of imported cargoes and the recent issuance of Q3 2026 fuel import licences by the Nigerian Midstream and Downstream Petroleum Regulatory Authority. Approved importers include AA Rano, AYM Shafa, Bono, NIPCO and Pinnacle for petrol, with AA Rano, AYM Shafa, Bono, Matrix and Pinnacle also licensed for diesel. Industry insiders warn that the hike undermines efforts to boost competition and lower pump prices. Marketers are expected to pass the increased depot cost directly to consumers. Petrol from the Dangote refinery remains relatively cheaper, but most filling stations source fuel from importers.

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