The Nigerian downstream petroleum sector experienced marginal price fluctuations between 10th – 14th February 2025, as local refining and market forces influenced fuel prices across major depots. Dangote Refinery and key depot operators adjusted prices slightly, with notable reductions in diesel (AGO) and liquefied petroleum gas (LPG), while aviation fuel (ATK) remained stable.
This review provides detailed insights into opening and closing depot prices for Petrol (PMS), Diesel (AGO), LPG, and ATK across major Lagos, Warri, Port Harcourt, Delta, and Calabar depots.
Dangote Refinery Weekly Price Trends
Petrol (PMS)
- Opening Price: ₦905
- Closing Price: ₦901
- Change: ₦4 decrease
Diesel (AGO)
- Opening Price: ₦1,076
- Closing Price: ₦1,035
- Change: ₦41 decrease
Liquefied Petroleum Gas (LPG)
- Opening Price: ₦930
- Closing Price: ₦875
- Change: ₦55 decrease
Aviation Fuel (ATK)
- Opening Price: ₦1,070
- Closing Price: ₦1,070
- Change: No change
Key Takeaway: LPG and Diesel recorded the biggest price drops, signalling increased refining output and improved local supply chains.
Depot Price Movements Across Key Locations
Dockyard Axis (Lagos)
Petrol (PMS)
- Aiteo: ₦906 → ₦902 (₦4 decrease)
- NIPCO: ₦910 → ₦907 (₦3 decrease)
Diesel (AGO)
- NIPCO: ₦1,055 → ₦1,045 (₦10 decrease)
- Aiteo: ₦1,048 → ₦1,040 (₦8 decrease)
LPG
- NIPCO: ₦935 → ₦915 (₦20 decrease)
- Navgas: ₦950 → ₦910 (₦40 decrease)
Coconut Axis (Lagos)
Petrol (PMS)
- MRS Tincan: ₦907 → ₦906 (₦1 decrease)
- Bovas: ₦910 → ₦910 (No change)
Diesel (AGO)
- Ibeto: ₦1,049 → ₦1,043 (₦6 decrease)
- Bono: ₦1,115 → ₦1,100 (₦15 decrease)
Aviation Fuel (ATK)
- Duport: ₦1,075 → ₦1,075 (No change)
- Africa Terminal: ₦1,075 → ₦1,075 (No change)
Satellite Axis (Lagos)
Petrol (PMS)
- Wosbab: ₦912 → ₦909 (₦3 decrease)
- Chipet: ₦912 → ₦909 (₦3 decrease)
Diesel (AGO)
- AA Rano: ₦1,050 → ₦1,040 (₦10 decrease)
- Menj: ₦1,050 → ₦1,039 (₦11 decrease)
LPG
- Rainoil: ₦950 → ₦925 (₦25 decrease)
Aviation Fuel (ATK)
- Rainoil: ₦1,075 → ₦1,075 (No change)
Port Harcourt Depots
Petrol (PMS)
- Bulk Strategic: ₦935 → ₦930 (₦5 decrease)
- Matrix PH: ₦935 → ₦930 (₦5 decrease)
- Liquid Bulk: ₦960 → ₦932 (₦28 decrease)
Diesel (AGO)
- Bulk Strategic: ₦1,079 → ₦1,075 (₦4 decrease)
- Stockgap: ₦1,079 → ₦1,075 (₦4 decrease)
Delta Depots (Warri, Oghara, Edo)
Petrol (PMS)
- A.Y.M Shafa: ₦930 → ₦928 (₦2 decrease)
- Matrix Warri: ₦930 → ₦926 (₦4 decrease)
- Sharon: ₦930 → ₦928 (₦2 decrease)
Diesel (AGO)
- Prudent Oghara: ₦1,068 → ₦1,063 (₦5 decrease)
- Matrix Warri: ₦1,070 → ₦1,063 (₦7 decrease)
- Taurus: ₦1,067 → ₦1,062 (₦5 decrease)
- Edo Refinery: ₦1,068 → ₦1,064 (₦4 decrease)
- Optima: ₦1,067 → ₦1,062 (₦5 decrease)
Aviation Fuel (ATK)
- Matrix Warri: ₦1,250 → ₦1,250 (No change)
Calabar Depots
Petrol (PMS)
- Northwest: ₦946 → ₦930 (₦16 decrease)
- Sobaz: ₦935 → ₦935 (No change)
- Soroman: ₦935 → ₦930 (₦5 decrease)
Market Trends and Key Takeaways
PMS prices remained relatively stable, with slight reductions across most depots.
Diesel (AGO) saw the highest drop, especially at Dangote Refinery and major depots.
LPG prices dropped significantly, particularly at Navgas (-₦40) and NIPCO (-₦20), likely due to improved local production.
ATK prices remained unchanged, showing a stable demand-supply balance.
Fuel Prices Show Stability Amid Market Adjustments
The gradual reduction in fuel prices, particularly in diesel and LPG, signals improving refinery outputs and competitive pricing from depot operators. While PMS prices showed only minor adjustments, industry analysts predict that stable supply and increased refining activity could lead to further price drops in the coming weeks.
As Nigeria moves toward full refining independence, tracking depot prices will remain essential for market stakeholders. Will prices continue to decline, or will global crude market trends cause fluctuations? Stay tuned for the next Depot Prices Weekly Review to find out.