As at 24th May 2025, petroleum depot prices across Nigeria showed a consistent downtrend between 19th and 23rd May, with nearly all regions reflecting modest reductions in PMS, AGO, LPG, and ATK prices. The downward shift aligns with declining international crude prices and sustained inventory turnover at coastal and inland depots.
This weekly review highlights depot pricing dynamics from key corridors: Dangote Refinery, Dockyard, Coconut, Satellite, Delta, Port Harcourt, and Calabar.
Dangote Refinery Price Trends
- PMS: ₦834 → ₦828
- AGO: ₦926 → ₦925
- LPG: ₦865 → ₦855
- ATK: ₦975 → ₦970
Analysis:
Dangote led national price easing, trimming ₦6 off petrol and ₦10 off LPG. These reductions, though minimal, reflect proactive inventory management amid global cost relief.
Dockyard Axis Depot Prices
- Nipco (PMS): ₦840 → ₦838 | AGO: ₦950 → ₦940
- Aiteo (PMS): ₦836 → ₦831
- Ardova (LPG): ₦925 → ₦905
- 11PLC (LPG): ₦925 → ₦905
Analysis:
Dockyard depots saw LPG drop by ₦20 while PMS and AGO declined marginally. The shift suggests depots are adjusting to market volume and moderating demand.
Coconut Axis Depot Prices
- Aipec (PMS): ₦836 → ₦831
- MRS Tincan (PMS): ₦834 → ₦830
- Ibeto & Ibachem (AGO): ₦935 → ₦917
- Duport & Africa Terminal (ATK): ₦1030 → ₦1030
Analysis:
Coconut Axis posted the sharpest diesel drop—₦18 per litre—signalling aggressive clearance strategy. PMS saw minor adjustments, while ATK remained flat.
Satellite Axis Depot Prices
- AA Rano (PMS): ₦836 → ₦832
- Menj (PMS): ₦836 → ₦831
- Mao & Chipet (AGO): ₦926 → ₦917
- Rain Oil & AA Rano (LPG): ₦920 → ₦910
- Rain Oil (ATK): ₦1030 → ₦1030
Analysis:
The Satellite cluster mirrored downtrend in AGO and LPG. PMS declined mildly, while ATK held steady for the second consecutive week.
Delta Axis Depot Prices
- Matrix Warri (PMS): ₦875 → ₦860
- Zamson (PMS): ₦860 → ₦855
- First Fortune (PMS): ₦857 → ₦856
- Edo Refinery (AGO): ₦960 → ₦952
- Pinnacle Warri (AGO): ₦959 → ₦954
- Matrix Warri (AGO): ₦960 → ₦955
- Matrix Warri (ATK): ₦1010 → ₦1010
Analysis:
Depots in Delta saw uniform declines across PMS and AGO. With supply pipelines stable, the trend supports regional pricing flexibility. ATK was unchanged.
Port Harcourt Depot Overview
- SIGMUND (PMS): ₦880 → ₦875
- EVER (PMS): ₦880 → ₦876
- Bulk Strategic (AGO): ₦977 → ₦960
Analysis:
Minimal price drops in Port Harcourt confirm stable throughput. AGO’s ₦17 reduction reflects minor stock pressure.
Calabar Depot Summary
- Mainland & Alkanes (PMS): ₦880 → ₦875
- Fynefield (AGO): ₦990 → ₦985
Analysis:
Calabar posted uniform reductions in petrol and diesel, likely in line with national pricing cues and manageable demand outlooks.
Market Insight and Outlook
Depot prices across Nigeria reflected a nationwide softening in the week ending 23rd May 2025. Dangote Refinery and major terminals led price moderation across all fuel types, with the most significant changes seen in AGO and LPG.
As Brent crude trades below $70 per barrel, downstream operators anticipate continued reductions—especially if global supply remains strong. Marketers are advised to monitor international signals and adjust purchase strategies accordingly.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is expected to maintain active oversight to ensure balanced pricing and supply continuity.