Nigerians are facing fresh pressure on household and business expenses following a sharp increase in the price of cooking gas, which has risen by 25 per cent from N1,200 to N1,500 per kilogramme.
The increase comes alongside another rise in the price of Automotive Gas Oil (AGO), popularly known as diesel, with the product reportedly selling for as much as N2,300 per litre at some filling stations and depots.
The latest developments are expected to further increase the cost of living and operating expenses for households, manufacturers, transport operators and small businesses already dealing with elevated energy costs.
According to the mid-day depot price report for Wednesday, September 16, 2026, diesel prices recorded notable increases in Lagos and Port Harcourt, Rivers State.
In Lagos, Ibachem recorded the highest increase among the depots listed, raising its AGO price by N170 from N1,830 to N2,000 per litre.
Ibeto increased its price by N135, from N1,835 to N1,970 per litre, while Duport and Integrated raised their prices by N110 each to N1,940 per litre.
Ardova also increased its diesel price by N20 to N1,970 per litre, while Eterna and Rain Oil sold at N2,000 per litre. Nipco’s price stood at N1,950 per litre.
In Port Harcourt, African Terminal, Duport and Integrated each increased their AGO prices by N110 to N1,940 per litre.
Warri also recorded an increase, with Matrix raising its diesel price by N40 from N2,080 to N2,120 per litre, the highest depot price captured in the report.
The continued rise in diesel prices could further increase production, transportation and logistics costs for businesses that rely on diesel-powered generators, vehicles and other equipment.
Telecommunications companies, manufacturers, transport operators and small businesses are among those that could feel the impact of the higher diesel prices.
Petrol prices remain relatively stable
While diesel prices continued to rise, petrol prices remained relatively stable in several locations.
In Lagos, petrol sold within a narrow range of N1,350 to N1,353 per litre.
Dangote, Pinnacle and A.A. Rano reduced their prices by N1, while Ascon and Integrated increased theirs by N2.
MRS maintained its price at N1,352 per litre, while Sahara and African Terminal increased their prices by N1 each to N1,352.
In Calabar, Alkanes reduced its petrol price by N17 to N1,338 per litre. Matrix also reduced its price by N10 to N1,355, while Mainland and Soroman cut their prices to N1,338 per litre.
In Warri, Matrix and Keonamex maintained their petrol prices at N1,350 per litre. Nepal and Prudent reduced theirs by N10 each to N1,340, while Rain Oil retained its price at N1,350.
The divergent price movements show that while petrol prices have remained relatively stable in some areas, diesel continues to record upward movements.
Higher diesel costs could eventually feed into the prices of goods and services as businesses pass increased energy, production and transportation expenses to consumers.
The Vice-President of the Oil and Gas Service Providers Association of Nigeria (OGSPAN), Lawal Kamaldeen, told Vanguard that the downstream petroleum sector remained unstable, with prices continuing to fluctuate.
He attributed the instability to developments surrounding the prolonged US-Iran conflict and said prices could remain volatile in the coming weeks.
