As of August 15, 2025, depot prices across Nigeria’s downstream sector posted broad-based declines in Premium Motor Spirit (PMS), while Automotive Gas Oil (AGO) recorded a mixed trend, with some depots showing marginal corrections and others reporting stronger drops.
Premium Motor Spirit (PMS) – Price Trends
Dangote Refinery (Lagos – Lekki)
| Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|
| PMS | 851.5 | 821.5 | -30 |
Analysis: Dangote’s ₦30/litre drop underscores softer demand and improved inflows from multiple tanker discharges at Apapa.
Lagos Depot Prices (PMS)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Bovas | PMS | 850 | 823 | -27 |
| Ardova | PMS | 852 | 825 | -27 |
| AA Rano | PMS | 850 | 822 | -28 |
Analysis: Lagos PMS depots all recorded downward adjustments, with AA Rano posting the steepest cut at ₦28/litre. Competitive inflows contributed to the uniform decline.
Warri Depot Prices (PMS)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| A&E | PMS | 854 | 838 | -16 |
| Matrix | PMS | 856 | 840 | -16 |
| Rain Oil | PMS | 856 | 840 | -16 |
Analysis: Warri depots mirrored each other, with uniform ₦16/litre cuts. This reflects stable vessel arrivals and consistent truck-outs supporting regional supply.
Calabar Depot Prices (PMS)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Zone 4 | PMS | 855 | 840 | -15 |
| Alkanes | PMS | 857 | 840 | -17 |
Analysis: Calabar saw moderate corrections, highlighting steady upland trucking and balanced demand patterns.
Port Harcourt Depot Prices (PMS)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Sigmund | PMS | 863 | 840 | -23 |
| TSL | PMS | 865 | 840 | -25 |
Analysis: Port Harcourt depots posted sharper falls, with TSL cutting ₦25/litre. This indicates increased product availability in the Eastern corridor.
Automotive Gas Oil (AGO) – Price Trends
Lagos Depot Prices (AGO)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Dangote | AGO | 1,000 | 992 | -8 |
| Rain Oil | AGO | 1,000 | 990 | -10 |
Analysis: Diesel prices in Lagos dipped slightly, with Rain Oil showing the larger ₦10/litre cut, suggesting localized oversupply.
Warri Depot Prices (AGO)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Matrix | AGO | 1,035 | 1,030 | -5 |
| Taurus | AGO | 1,029 | 1,030 | +1 |
| A.Y.M Shafa | AGO | 1,035 | 1,030 | -5 |
| NIPCO | AGO | 1,030 | 1,033 | +3 |
Analysis: Warri’s diesel market posted mixed signals, with Matrix and A.Y.M Shafa easing by ₦5/litre, while NIPCO and Taurus ticked slightly upward. This reflects localized demand swings and trading adjustments.
Port Harcourt Depot Prices (AGO)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Bulk Strategic | AGO | 1,063 | 1,048 | -15 |
Analysis: Bulk Strategic drove Port Harcourt diesel adjustments, easing ₦15/litre on weaker industrial offtake.
Market Insight & Outlook
Between 11–15 August 2025, PMS prices fell across all regions, reflecting Dangote’s ex-depot cut and steady tanker discharges. AGO, meanwhile, showed regional divergence: Lagos posted small drops, Warri displayed a mixed picture, while Port Harcourt experienced sharper corrections.
Outlook: PMS may continue under downward pressure into late August, with strong product inflows sustaining supply. AGO’s volatility is expected to persist, shaped by industrial demand cycles, localized oversupply, and import schedules.