Nigeria’s downstream petroleum market recorded broad-based increases in depot prices between Monday, August 17 and Friday, August 21, 2026, as the rising international oil market and renewed concerns over supply through the Strait of Hormuz filtered into local petroleum pricing.
The latest weekly review by Petroleumprice.ng shows that PMS prices rose across most depots in Lagos, Warri, Port Harcourt and Calabar, while AGO recorded sharper increases in several locations, particularly Lagos and Warri.
The market also came under pressure from rising international crude prices, with oil trading close to $95 per barrel amid the continuing crisis around the Strait of Hormuz. The disruption has increased concerns about crude and refined-product supply, replacement costs and the price of future cargoes.
LAGOS DEPOTS
PMS (Monday–Friday Movement)
Pivot: ₦1,180 → ₦1,200 (+₦20)
Pinnacle: ₦1,167 → ₦1,190 (+₦23)
Integrated: ₦1,179 → ₦1,198 (+₦19)
African Terminal: ₦1,179 → ₦1,198 (+₦19)
MRS Tincan: ₦1,167 → ₦1,192 (+₦25)
Nipco: ₦1,170 → ₦1,190 (+₦20)
Ardova: ₦1,180 → ₦1,198 (+₦18)
Lagos PMS prices moved higher across all matched depots, with MRS Tincan recording the largest increase at ₦25 per litre, followed by Pinnacle at ₦23. Ardova posted the smallest increase at ₦18 per litre.
AGO (Monday–Friday Movement)
Sahara: ₦1,650 → ₦1,750 (+₦100)
Pivot: ₦1,670 → ₦1,750 (+₦80)
Rain Oil: ₦1,640 → ₦1,700 (+₦60)
Nipco: ₦1,650 → ₦1,700 (+₦50)
African Terminal: ₦1,650 → ₦1,680 (+₦30)
Integrated: ₦1,650 → ₦1,670 (+₦20)
Duport: ₦1,650 → ₦1,670 (+₦20)
Ibachem: ₦1,650 → ₦1,670 (+₦20)
Gulf Treasure: ₦1,650 → ₦1,670 (+₦20)
T.Time: ₦1,650 → ₦1,675 (+₦25)
Ibeto: ₦1,650 → ₦1,675 (+₦25)
Wosbab: ₦1,670 → ₦1,675 (+₦5)
TMDK: ₦1,670 → ₦1,675 (+₦5)
Lagos AGO recorded significantly stronger upward movements than PMS. Sahara posted the largest increase at ₦100 per litre, while Pivot rose by ₦80 and Rain Oil by ₦60. Wosbab and TMDK recorded the smallest increases at ₦5 per litre.
WARRI DEPOTS
PMS (Monday–Friday Movement)
Matrix: ₦1,200 → ₦1,215 (+₦15)
Nepal: ₦1,200 → ₦1,215 (+₦15)
Rain Oil: ₦1,220 → ₦1,215 (-₦5)
Parker: ₦1,200 → ₦1,195 (-₦5)
Warri’s PMS market recorded mixed movements. Matrix and Nepal increased by ₦15 per litre, while Rain Oil and Parker declined by ₦5. Rain Oil nevertheless remained among the higher-priced matched depots at the beginning of the week.
AGO (Monday–Friday Movement)
Rain Oil: ₦1,690 → ₦1,750 (+₦60)
Prudent: ₦1,690 → ₦1,740 (+₦50)
A.Y.M Shafa: ₦1,720 → ₦1,780 (+₦60)
Warri AGO prices moved sharply higher, with A.Y.M Shafa reaching ₦1,780 per litre on Friday. Rain Oil and A.Y.M Shafa both recorded ₦60 increases, while Prudent rose by ₦50.
PORT HARCOURT DEPOTS
PMS (Monday–Friday Movement)
Liquid Bulk: ₦1,190 → ₦1,218 (+₦28)
Sigmund: ₦1,190 → ₦1,218 (+₦28)
Bulk Strategic: ₦1,190 → ₦1,215 (+₦25)
Port Harcourt PMS prices also moved higher, with Liquid Bulk and Sigmund increasing by ₦28 per litre, while Bulk Strategic rose by ₦25.
AGO (Monday–Friday Movement)
Bulk Strategic: ₦1,710 → ₦1,745 (+₦35)
Bulk Strategic was the only Port Harcourt AGO depot with both Monday and Friday prices in the supplied market data, rising by ₦35 per litre during the week.
CALABAR DEPOTS
PMS (Monday–Friday Movement)
Soroman: ₦1,180 → ₦1,212 (+₦32)
Mainland: ₦1,180 → ₦1,213 (+₦33)
Sobaz: ₦1,180 → ₦1,212 (+₦32)
Northwest: ₦1,185 → ₦1,213 (+₦28)
Fynefield: ₦1,220 → ₦1,220 (₦0)
Matrix: ₦1,200 → ₦1,215 (+₦15)
Calabar recorded mostly upward PMS movements, led by Mainland with a ₦33 increase, followed by Soroman and Sobaz at ₦32 each. Fynefield was the only matched depot that maintained its Monday price at ₦1,220 per litre.
MARKET OUTLOOK
The sharpest pressure on the downstream market is coming from the international oil market. Crude prices have climbed steadily as the crisis around the Strait of Hormuz continues, with oil now trading close to $95 per barrel. The development raises the replacement cost of imported petroleum products and increases the risk that local depot prices will continue to adjust upwards.
The local market is also responding to a fresh increase from Dangote Petroleum Refinery. The refinery raised its PMS gantry price by ₦20 per litre, from ₦1,165 to ₦1,185 per litre, It also increased AGO by ₦100 per litre, from ₦1,570 to ₦1,670 per litre.
The increase in diesel prices comes as Nigeria’s estimated spot landing cost for AGO has climbed to ₦1,709.60 per litre, leaving a ₦39.60 per litre gap above Dangote’s new ₦1,670 gantry price. The differential continues to provide an incentive for marketers to source locally refined diesel rather than depend entirely on imported supplies.
For PMS, the latest depot movements are also significant because the ₦1,185 Dangote gantry price now sits much closer to the prevailing Lagos depot market, where matched Friday prices ranged from ₦1,190 to ₦1,200 per litre. With international crude approaching $95 and supply concerns around Hormuz unresolved, marketers are likely to remain cautious about inventory replacement costs and further price adjustments.