Petrol depot prices fall to about ₦1,210 per litre in Lagos, diesel also drops

Depot prices of petrol and diesel have fallen further in Lagos, according to market data.
The new prices
Figures published on Thursday, 12 November 2026, show that the average depot price of petrol dropped by ₦29 per litre, from ₦1,239 to ₦1,210, a decline of about 2.3 per cent. Some depots were reportedly selling at around ₦1,200. The average price of diesel also fell, to about ₦1,688 per litre.
Why it matters
Depot prices are what marketers pay before selling to motorists, so lower wholesale prices could lead to cheaper petrol at filling stations in the coming days. The cuts came despite a rebound in global crude oil prices linked to renewed tension between the United States and Iran.
Background
Petrol prices have been easing in recent days. Dangote Refinery reportedly cut its loading price to ₦1,250 per litre after switching to a pricing system linked to global petrol prices, and MRS filling stations in Abuja reduced their pump price to ₦1,399 per litre.
- Average depot petrol fell to about ₦1,210.
- Diesel dropped to about ₦1,688.
- Pump prices may follow.
