As of Friday, July 18, 2025, depot prices across Nigeria’s key petroleum corridors reflected mixed movements, with Premium Motor Spirit (PMS) largely stable, Automotive Gas Oil (AGO) showing varied adjustments, and Liquefied Petroleum Gas (LPG) dropping modestlyacross major zones: Lagos (Coconut, Satellite, Dockyard), Delta (Warri/Edo), Port Harcourt, Calabar, and Dangote Refinery in Lekki.
Dangote Refinery Price Trends
| Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|
| PMS | 820 | 820 | 0 |
| AGO | 1,010 | 994 | −16 |
| LPG | 800 | 795 | −5 |
| ATK | 1,005 | 1,005 | 0 |
Analysis:
While PMS and ATK remained stable at Dangote, AGO prices dropped by ₦16, and LPG dipped by ₦5/litre a response to moderate supply buildup and market competition.
Coconut Axis Depot Prices
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Swift | PMS | 821 | 820 | −1 |
| Aipec | PMS | 821 | 820 | −1 |
| Ibeto | AGO | 1,020 | 1,010 | −10 |
| Ibachem | AGO | 1,020 | 1,010 | −10 |
Analysis:
PMS remained relatively flat across Coconut depots, while AGO dropped by ₦10/litre an indication of regional diesel oversupply or distributor markdowns.
Satellite Axis Depot Prices
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Menj | PMS | 820 | 819 | −1 |
| AA Rano | PMS | 821 | 820 | −1 |
| Menj | AGO | 1,010 | 1,008 | −2 |
| TMDK | AGO | 1,010 | 1,008 | −2 |
| Rain Oil | ATK | 1,025 | 1,025 | 0 |
Analysis:
PMS and AGO prices across Satellite fell slightly. ATK held firm at ₦1,025/litre, suggesting consistent jet fuel demand. Minor drops point to steady but cautious downstream activity in Amuwo-Odofin.
Dockyard Axis Depot Prices
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Nipco | PMS | 826 | 826 | 0 |
| Aiteo | PMS | 821 | 820 | −1 |
| Nipco | AGO | 1,020 | 1,050 | +30 |
| Ardova | AGO | 1,020 | 1,010 | −10 |
| Navgas | LPG | 875 | 875 | 0 |
| Ardova | LPG | 825 | 822 | −3 |
Analysis:
While PMS stayed largely stable, Nipco sharply raised its AGO price by ₦30, possibly reflecting fresh inbound supply or logistical premiums. LPG at Ardova dipped slightly.
Delta Axis Depot Prices (Warri)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Matrix Warri | PMS | 850 | 840 | −10 |
| First Fortune | PMS | 850 | 840 | −10 |
| Zamson | PMS | 850 | 840 | −10 |
| A.Y.M | AGO | 1,090 | 1,050 | −40 |
| Taurus | AGO | 1,020 | 1,020 | 0 |
| First Fortune | AGO | 1,030 | 1,020 | −10 |
| Matrix Warri | ATK | 1,010 | 1,010 | 0 |
Analysis:
Delta depots saw consistent PMS drops of ₦10 across major terminals, while AGO prices fell sharply at A.Y.M by ₦40. ATK was steady, reinforcing stability in jet fuel distribution.
Port Harcourt Depot Overview
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| TSL | PMS | 857 | 854 | −3 |
| Sigmund | PMS | 855 | 853 | −2 |
| Ever | PMS | 857 | 852 | −5 |
| Bulk Strategic | AGO | 1,020 | 1,050 | +30 |
| Master | AGO | 1,025 | 1,020 | −5 |
| Stockgap | LPG | 860 | 860 | 0 |
Analysis:
PMS declined slightly across Port Harcourt depots, while AGO showed mixed results — with Bulk Strategic posting a ₦30/litre hike. LPG remained unchanged at Stockgap.
Calabar Depot Summary
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Soroman | PMS | 840 | 848 | +8 |
| Alkanes | PMS | 840 | 850 | +10 |
| Matrix | PMS | 837 | 850 | +13 |
Analysis:
In contrast to other zones, PMS prices in Calabar climbed, with Matrix recording the highest jump of ₦13. This upward trend signals rising demand or regional supply tightness in the southeast corridor.
Market Insight and Outlook
The market data for 14th–18th July 2025 reflects measured pricing across the board:
- PMS: Stable to slightly lower in Lagos and Warri, but trending upward in Calabar.
- AGO: Declined in key Lagos and Delta depots but rose at Nipco and Bulk Strategic.
- LPG: Modest drops at Dangote and Ardova; flat elsewhere.
- ATK: No change across all reported locations.
With domestic refiners ramping output and global crude prices hovering below $69/barrel, further price moderation may be expected. However, regional variances and supply chain pressures will continue to shape local depot behaviour in the coming days.