Nigeria’s downstream market closed the first week of December with mixed price trends across key depots. Petrol (PMS) posted mild declines in most regions, while diesel (AGO) recorded a blend of gains and slight adjustments depending on local supply pressures.
According to Petroleumprice.ng reports which tracks depot-level movements between Monday, 1 December, and Friday, 5 December 2025, focusing strictly on depots with complete weekly data.
LAGOS DEPOTS
PMS Movements (1 – 5 Dec)
| Depot | Opening (₦/L) | Closing (₦/L) | Change (₦) | Trend |
|---|---|---|---|---|
| Pinnacle | 840.5 | 832 | -8.5 | ↓ |
| Rainoil | 841 | 828 | -13 | ↓ |
| Aiteo | 838 | 826 | -12 | ↓ |
| Aipec | 839 | 826 | -13 | ↓ |
| Wosbab | 839 | 828 | -11 | ↓ |
Summary:
Lagos PMS recorded broad declines across all major depots. Price drops ranged from ₦8.5 to ₦13, driven by improved vessel inflows and reduced wholesale pressure. Rainoil and Aipec posted the sharpest declines (-₦13), reflecting competitive repositioning among top coastal players.
AGO Movements (1 – 5 Dec)
| Depot | Opening (₦/L) | Closing (₦/L) | Change | Trend |
|---|---|---|---|---|
| Pinnacle | 945 | 950 | +5 | ↑ |
| Rainoil | 942 | 945 | +3 | ↑ |
| Aipec | 945 | 940 | -5 | ↓ |
| Ibachem | 945 | 937 | -8 | ↓ |
| African Terminal | 945 | 937 | -8 | ↓ |
Summary:
AGO in Lagos delivered a mixed performance, with Pinnacle and Rainoil posting slight gains despite broader downward pressure. Meanwhile, Ibachem and African Terminal dropped by ₦8, aligning with declining import-parity costs mid-week. Aipec dipped moderately (-₦5). Overall, the market reflected mild softening masked by isolated upward adjustments.
WARRI DEPOTS
PMS Movements (1 – 5 Dec)
| Depot | Opening (₦/L) | Closing (₦/L) | Change (₦) | Trend |
|---|---|---|---|---|
| Zamson | 855 | 842 | -13 | ↓ |
| AYM Shafa | 853 | 842 | -11 | ↓ |
| Danmarna | 855 | 842 | -13 | ↓ |
| Optima | 854 | 842 | -12 | ↓ |
| Nepal | 854 | 840 | -14 | ↓ |
Summary:
Warri PMS witnessed consistent declines, with all depots closing lower by ₦11–₦14. Nepal posted the biggest drop (-₦14), reflecting supply-side easing following earlier tightness. The uniform direction signals a broad market correction across the Warri hub.
AGO Movements (1 – 5 Dec)
| Depot | Opening (₦/L) | Closing (₦/L) | Change (₦) | Trend |
|---|---|---|---|---|
| Nipco | 1000 | 975 | -25 | ↓ |
| Rainoil | 1000 | 974 | -26 | ↓ |
| Prudent | 1000 | 974 | -26 | ↓ |
| AYM Shafa | 1003 | 972 | -31 | ↓ |
| Matrix | 1003 | 975 | -28 | ↓ |
Summary:
Warri AGO dropped sharply across the board, posting ₦25–₦31 declines. AYM Shafa led the downward swing (-₦31) as regional supply stabilised and trucking demand eased. The uniform decline confirms strong downward pressure on diesel in the Warri axis, driven by improved logistics and reduced replacement costs.
PORT HARCOURT DEPOTS
PMS Movements (1 – 5 Dec)
| Depot | Opening (₦/L) | Closing (₦/L) | Change (₦) | Trend |
|---|---|---|---|---|
| Masters | 857 | 841 | -16 | ↓ |
| Sigmund | 857 | 841 | -16 | ↓ |
| Bulk Strategic | 863 | 841 | -22 | ↓ |
| TSL | 855 | 841 | -14 | ↓ |
Summary:
Port Harcourt PMS prices fell significantly, with Bulk Strategic recording the steepest drop (-₦22). Improved coastal supply and week-start overstocking contributed to the declines. Overall, the region experienced strong downward corrections.
AGO Movements (1 – 5 Dec)
| Depot | Opening (₦/L) | Closing (₦/L) | Change (₦) | Trend |
|---|---|---|---|---|
| Bulk Strategic | 1006 | 998 | -8 | ↓ |
Summary:
With limited data available, Port Harcourt AGO posted a modest ₦8 decline, reflecting softening wholesale demand and better truck availability.
CALABAR DEPOTS
PMS Movements (1 – 5 Dec)
| Depot | Opening (₦/L) | Closing (₦/L) | Change (₦) | Trend |
|---|---|---|---|---|
| Mainland | 870 | 838 | -32 | ↓ |
| Soroman | 855 | 838 | -17 | ↓ |
Summary:
Calabar PMS experienced broad downward movement, driven by regional balancing and late-week market repositioning. Mainland recorded the largest reduction nationwide (-₦32).
WEEKLY MARKET SUMMARY
| Region | PMS Change (Trend) | AGO Change (Trend) | Market Direction |
|---|---|---|---|
| Lagos | ↓ mild to moderate | mixed | Soft PMS; mixed AGO |
| Warri | ↓ across board | ↓ strong | Broad declines |
| Port Harcourt | ↓ wide | ↓ mild | Strong PMS correction |
| Calabar | ↓ steep | — | PMS softening; AGO unavailable |
MARKET OUTLOOK
PMS is expected to remain stable to slightly bearish as cargo arrivals improve and depots adjust inventories before mid December. AGO may experience further softening, due to Dangote Refinery’s ₦40 price decline and fluctuating crude oil prices. However, shipping delays remain key variables that could influence next-week movements.