Find out more as depots announce new petrol prices, lower than Dangote rates

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Private depot operators have lowered petrol prices in response to Dangote Refinery’s latest price cutThe adjustments in the downstream market have now created competition and choices for marketersSeveral depots are now selling petrol at rates close to or even below Dangote’s revised price

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Private depots in Nigeria have followed Dangote Petroleum Refinery in lowering petrol prices on Monday, June 1, 2026.

The price cuts by operators range between N1 and N22/litre, depending on the operator and volume.

The latest move by depot owners has now fueled increased competition in the downstream oil industry.

Fuel price war intensifies as depots adjust rates nationwide Photo: Nurphoto
Source: Getty Images

Data obtained from Petroluemprice.ng showed that several depots on Monday are currently selling PMS closer to or slightly lower than Dangote’s benchmark price.

Over the weekend,