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.Oil price stable at $62/barrel
.Relief for gas consumers as fresh LPG cargoes arrive Lagos ports
Petroleum depots have raised petrol prices amid reports that the Dangote Petroleum Refinery has temporarily halted loading operations, deepening supply shortages and pushing retail pump prices closer to ₦1,000 per litre across major Nigerian cities.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that depot operators raised prices after the refinery suspended fuel loading last week, a move that has disrupted nationwide distribution and triggered panic buying.
Checks across Lagos, Ogun, Abuja, Rivers, and Edo show that petrol now sells between ₦900 and ₦955 per litre, while some filling stations in Sokoto and parts of the Federal Capital Territory charge as high as ₦1,000.
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Data from depots indicate that Matrix, Fynefield, and Liquid Bulk sold petrol at ₦900, Northwest at ₦895, Pinnacle at ₦885, RainOil at ₦890, NIPCO at ₦850, Aiteo at ₦878, and Sigmund at ₦890.
Retailers quickly adjusted their pump prices accordingly. NNPC Retail outlets now sell petrol at ₦928 in Lagos and Ogun, up from ₦870, reversing the price cut implemented in August, when NNPC reduced petrol to ₦865 in Lagos and ₦890 in Abuja.
