The Nigerian downstream petroleum market recorded mixed pricing movements across major depots between Monday, 18th May and Friday, 22nd May 2026, as Premium Motor Spirit (PMS) prices remained relatively stable while Automotive Gas Oil (AGO) prices posted mild downward corrections across several supply locations.
Checks by Petroleumprice.ng showed that depot owners largely maintained cautious pricing strategies during the week amid stable vessel discharge activity and improved product circulation in Lagos and Warri. Diesel prices softened slightly across most depots, while PMS prices traded within a narrow range despite regional supply variations.
LAGOS DEPOTS
PMS (Monday – Friday Movement)
Lagos PMS prices remained largely stable during the review period, with most depots recording marginal downward adjustments.
Bono: ₦1279 → ₦1277 (−₦2)
Integrated: ₦1279 → ₦1277 (−₦2)
Quest: ₦1279 → ₦1277 (−₦2)
African Terminal: ₦1279 → ₦1277 (−₦2)
Techno Oil: ₦1278 → ₦1277 (−₦1)
Aiteo: ₦1278 → ₦1277 (−₦1)
Petroleumprice.ng analysis indicates that PMS supply remained relatively balanced in Lagos throughout the week, limiting major price volatility despite sustained truck-out activity.
AGO (Monday – Friday Movement)
Lagos AGO prices recorded slight downward adjustments across key depots as diesel demand weakened marginally.
Bono: ₦1805 → ₦1802 (−₦3)
Duport: ₦1805 → ₦1802 (−₦3)
Integrated: ₦1805 → ₦1802 (−₦3)
Rain Oil: ₦1820 → ₦1805 (−₦15)
Menj: ₦1815 → ₦1805 (−₦10)
Emadeb: ₦1815 → ₦1805 (−₦10)
Market checks by Petroleumprice.ng showed that increased product availability within Lagos depots contributed to the mild diesel price corrections recorded during the week.
WARRI DEPOTS
PMS (Monday – Friday Movement)
Warri PMS prices declined moderately across major depots during the week.
Rain Oil: ₦1315 → ₦1290 (−₦25)
Nepal: ₦1292 → ₦1285 (−₦7)
Optima: ₦1290 → ₦1285 (−₦5)
Parker: ₦1292 → ₦1290 (−₦2)
The Warri PMS market experienced softer pricing pressure as inland supply improved towards the end of the week.
AGO (Monday – Friday Movement)
Warri AGO prices also moved downward across major depots.
Rain Oil: ₦1815 → ₦1810 (−₦5)
Nipco: ₦1816 → ₦1815 (−₦1)
First Fortune: ₦1814 → ₦1809 (−₦5)
Danmarna: ₦1810 → ₦1809 (−₦1)
Petroleumprice.ng checks revealed that diesel demand in Warri remained relatively subdued during the review period, contributing to the gradual price moderation.
PORT HARCOURT DEPOTS
AGO (Monday – Friday Movement)
Port Harcourt AGO prices recorded moderate declines during the week.
Matrix: ₦1855 → ₦1830 (−₦25)
Sigmund: ₦1855 → ₦1830 (−₦25)
The downward movement reflected easing replacement costs and slower industrial demand across the region.
CALABAR DEPOTS
PMS (Monday – Friday Movement)
Calabar PMS prices recorded mild downward adjustments across major depots.
Sobaz: ₦1298 → ₦1290 (−₦8)
Northwest: ₦1300 → ₦1290 (−₦10)
Fynefield: ₦1300 → ₦1290 (−₦10)
Soroman: ₦1300 → ₦1290 (−₦10)
Petroleumprice.ng analysis showed that Calabar remained among the highest-priced PMS corridors nationally despite the slight week-on-week moderation.
MARKET OUTLOOK
PMS prices remained relatively stable nationwide during the week, with only marginal declines recorded across Lagos, Warri and Calabar depots.
AGO prices trended slightly lower across Lagos, Warri and Port Harcourt as diesel supply improved and buying momentum softened.
Market participants told Petroleumprice.ng that depot pricing in the coming weeks will continue to depend on crude oil prices, vessel discharge schedules, haulage costs and refined product availability across the downstream supply chain.