Wholesale petrol prices at private depots have risen to about N1,250 per litre following the continued suspension of fuel loading at the Dangote Petroleum Refinery, tightening fuel supply across the downstream market.

A market survey on Monday showed depot prices ranging from N1,248 to N1,270 per litre in Lagos, Port Harcourt, Warri and Calabar, compared to an average of about N1,200 per litre last week.

Industry players said the prolonged loading suspension at the Dangote refinery has forced marketers to depend more on private depots, increasing demand and creating supply bottlenecks. The refinery’s shift to dollar-denominated transactions has also contributed to pricing pressure, although stakeholders differ on how much it has influenced the latest increase.

The rise in local prices has coincided with stronger global crude oil prices following renewed tensions in the Middle East, which have raised concerns over oil supply routes and increased replacement costs for petroleum products.

In Lagos, several depots sold petrol at around N1,250 per litre, while prices in Port Harcourt climbed to N1,270 per litre. Similar price increases were recorded in Warri and Calabar.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) said fuel import licences issued to marketers have failed to stabilise prices, noting that imported cargoes have remained expensive.

IPMAN National Publicity Secretary, Chinedu Ukadike, urged the Federal Government and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to address uncertainty surrounding fuel pricing, import licences and the refinery’s payment policy.

He also called for continued crude oil sales to local refiners in naira, arguing that strengthening domestic refining would reduce dependence on costly imports, ease pressure on foreign exchange and help keep petrol prices under control.