Depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) remained largely unchanged across major Nigerian supply hubs on Monday, April 13, 2026, despite continued upward pressure in global crude oil markets.
Petroleumprice.ng mid-day report of depot transactions in Lagos, Port Harcourt, Warri, and Calabar shows that most marketers maintained last week’s pricing levels, reflecting a cautious market stance amid uncertainty over potential adjustments by Dangote Refinery.
Lagos market shows marginal PMS softening, mixed AGO signals
In Lagos, PMS prices recorded slight downward adjustments across a few depots. At Dangote, the ex-depot PMS price eased from ₦1,210 to ₦1,208 per litre, while AGO declined from ₦1,758 to ₦1,751 per litre.
Similarly, Rainoil adjusted PMS marginally from ₦1,213 to ₦1,212, while Ascon recorded a ₦3 drop to ₦1,210. A.A Rano held steady at ₦1,210.
On the diesel side, movements were mixed. Ibeto, Integrated, and Swift posted slight increases from ₦1,840 to ₦1,845, while Nipco maintained ₦1,850 without change. Other depots such as Matrix and Sahara recorded no fresh updates.
Port Harcourt records mixed movements across PMS and AGO
In Port Harcourt, price changes were limited but varied across products. Bulk Strategic increased PMS slightly from ₦1,223 to ₦1,225, while Sigmund reduced PMS from ₦1,225 to ₦1,218.
AGO pricing showed wider swings, with Bulk Strategic dropping from ₦1,938 to ₦1,920, while Sigmund raised prices sharply from ₦1,950 to ₦2,000 per litre.
Calabar and Warri reflect stable pricing trend
In Calabar, PMS prices edged slightly higher at select depots. Jenny and Wabeco recorded increases from ₦1,223 to ₦1,228, while other locations remained unchanged or inactive.
Warri markets were largely stable. Matrix, Prudent, and Rainoil maintained PMS at ₦1,235, while First Fortune held both PMS and AGO at ₦1,947. However, Nipco raised AGO from ₦1,950 to ₦2,000, while Danmarna recorded a notable drop in AGO from ₦1,902 to ₦1,850.
Crude oil prices continued to climb as of 3:50pm WAT, with Brent trading at $100.4 per barrel, up 5.45 percent, while West Texas Intermediate stood at $101.6, reflecting a 5.22 percent increase. The sustained rally in global oil benchmarks has yet to translate into immediate upward adjustments in depot pricing.
Industry participants attribute the broad price stability to a wait-and-see approach among depot owners, who are closely monitoring pricing signals from Dangote Refinery, currently the dominant supplier in the domestic PMS market.
Despite rising crude oil prices globally, Dangote has yet to implement an upward review in petrol pricing, effectively anchoring the market and limiting independent adjustments by private depot operators.
Market sources indicate that many marketers are reluctant to raise prices ahead of any move by the refinery, given its influence on supply and pricing direction.
However, underlying market sentiment remains cautious. Traders warn that if global crude prices sustain their upward trend, a delayed but eventual price adjustment could occur.
Sources familiar with Dangote’s pricing strategy suggest the refinery is actively monitoring market conditions and may revise prices if elevated crude levels persist over time.
Until then, depot operators are expected to maintain current price levels, resulting in a temporarily stable but fragile pricing environment across Nigeria’s downstream market.