Petrol Loading Resumes as Depot Prices Rise Nationwide

Fuel marketers have resumed loading petrol and diesel from private depots after a temporary disruption caused by recent price adjustments in Nigeria’s downstream petroleum sector.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) assured consumers that there is no immediate threat of fuel scarcity, explaining that depot operators briefly suspended loading activities to adjust prices and settle outstanding payment differences with marketers following the latest fuel price increase.

According to IPMAN spokesman Chinedu Ukadike, marketers became cautious due to ongoing fluctuations in fuel prices and uncertainty linked to developments in the global oil market.

He noted that depot owners often halt operations temporarily whenever prices change in order to update inventories and recalculate costs.

Meanwhile, petrol prices at major private depots in Lagos have increased, with marketers now paying as much as N1,275 per litre. Several depots raised their ex-depot prices by about N25 per litre amid continued market uncertainty.

Price movements varied across other regions. Some depots in Port Harcourt, Calabar and Warri maintained previous rates, while others recorded slight increases or reductions depending on market conditions.

Diesel prices also rose at some depots, with loading costs climbing to around N1,600 per litre in several locations.

Industry observers say the latest adjustments reflect ongoing volatility in the petroleum market following the Dangote Petroleum Refinery’s decision to sell petrol to marketers in dollars.

The move has continued to influence depot pricing across the country.

Despite the resumption of loading activities, marketers and consumers remain watchful as fuel prices continue to fluctuate, with many Nigerians already feeling the impact of higher pump prices nationwide.

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