Petrol prices are falling across Calabar, Warri and Port Harcourt, with increased supply from Dangote Petroleum Refinery compressing wholesale prices in the three markets and pushing some depot offers below the refinery’s ₦1,350 per litre PMS gantry price.
A fresh market survey by Petroleumprice.ng on Friday shows depots in Calabar: Alkanes, Sobaz, Fynefield and Northwest are selling PMS at ₦1,330 per litre, while Masters and Stockgap in Port Harcourt are offering at ₦1,333 and ₦1,332, respectively.
In Warri, Nepal, Matrix and Optima are all quoting ₦1,335 per litre, against the ₦1,350 per litre Dangote Refinery gantry price. The Warri offers are therefore ₦15 below the refinery benchmark, while the ₦1,330 Calabar price is ₦20 lower.
The spread widens against Lagos. African Terminal, Ascon and Integrated are currently at ₦1,351 per litre, while MRS Tincan is at ₦1,352. Calabar is consequently ₦21–₦22 below Lagos, Warri is ₦16–₦17 lower, while Port Harcourt is ₦18–₦20 below the Lagos range, making a rare glimpse for these locations to sell lower than Lagos.
The price compression coincides with a stronger stock position in the three markets following increased product supply from Dangote Refinery. Calabar has seven depots with PMS, Warri has five and Port Harcourt has six, giving the three locations a significantly deeper physical supply position than the current Lagos market.
The concentration of Dangote volumes has consequently shifted the competitive pressure away from Lagos and towards the three coastal markets. Depot owners with available stocks are cutting offers to compete for wholesale buyers, producing the unusual situation where PMS is changing hands below the refinery’s own gantry benchmark.
The development also comes against restrictions affecting some Lagos traders over import licence permits. Market sources said some of the affected traders had imported products and are now seeking to dispose of the volumes or blend them, adding further supply pressure to the market.
For the wholesale market, the current price structure is clear: Dangote Refinery’s PMS gantry stands at ₦1,350/litre, while Calabar is trading at ₦1,330, Warri at ₦1,335 and Port Harcourt at ₦1,332–₦1,333. Lagos, by comparison, remains higher at ₦1,351–₦1,352 per litre.
The market is therefore showing a direct supply-driven divergence between Lagos and the other coastal hubs, with the heavier Dangote supply position in Calabar, Warri and Port Harcourt forcing depot prices below both Lagos wholesale offers and the refinery’s ₦1,350/litre gantry benchmark.