The Nigerian downstream petroleum market recorded a generally stable but mildly bearish pricing trend across major depots between Monday, 1st June and Friday, 5th June 2026.
Both Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) prices eased across key supply hubs in Lagos, Warri, and Port Harcourt, reflecting balanced product availability, softer trading sentiment, and minor adjustments linked to global crude price movements.
However, market data shows that while PMS declines were mostly marginal, AGO experienced slightly sharper corrections in Lagos and parts of the South-South corridor.
LAGOS DEPOTS
PMS (Monday – Friday Movement)
Lagos PMS prices maintained a tight trading range with small downward adjustments across most depots.
Pinnacle: ₦1,253 → ₦1,251 (−₦2)
A.A. Rano: ₦1,252 → ₦1,249 (−₦3)
Aipec: ₦1,251 → ₦1,248 (−₦3)
African Terminal: ₦1,251 → ₦1,248 (−₦3)
Bono: ₦1,252 → ₦1,248 (−₦4)
Integrated: ₦1,251 → ₦1,248 (−₦3)
NIPCO: ₦1,252 → ₦1,248 (−₦4)
Checks by Petroleumprice.ng indicates that overall Lagos PMS movement reflects a low-volatility market environment, with prices adjusting only slightly in response to supply and demand balance.
AGO (Monday – Friday Movement)
AGO prices in Lagos recorded a clearer downward correction, with most depots adjusting in the same direction.
NIPCO: ₦1,705 → ₦1,700 (−₦5)
Duport: ₦1,706 → ₦1,695 (−₦11)
Sahara: ₦1,706 → ₦1,695 (−₦11)
Aipec: ₦1,703 → ₦1,697 (−₦6)
African Terminal: ₦1,705 → ₦1,695 (−₦10)
Bono: ₦1,705 → ₦1,695 (−₦10)
Ibeto: ₦1,703 → ₦1,695 (−₦8)
MENJ: ₦1,705 → ₦1,695 (−₦10)
The downward movement suggests improved product availability and easing cost pressure in the diesel market segment.
WARRI DEPOTS
PMS (Monday – Friday Movement)
Checks by Petroleumprice.ng confirms that Warri maintained one of the most stable pricing patterns in the review period.
Matrix: ₦1,265 → ₦1,265 (0)
Parker: ₦1,265 → ₦1,264 (−₦1)
Nepal: ₦1,265 → ₦1,263 (−₦2)
This stability indicates steady supply conditions and limited speculative price adjustments in the region.
AGO (Monday – Friday Movement)
Rain Oil: ₦1,710 → ₦1,705 (−₦5)
Warri’s diesel market recorded only a mild correction, consistent with its relatively stable downstream flow.
PORT HARCOURT DEPOTS
PMS (Monday – Friday Movement)
Checks by Petroleumprice.ng confirmed that Port Harcourt recorded the most noticeable PMS adjustment among the major hubs, although still within a controlled range.
Bulk Strategic: ₦1,284 → ₦1,275 (−₦9)
Liquid Bulk: ₦1,285 → ₦1,275 (−₦10)
The movement reflects short-term supply adjustments and repositioning of stock by depot operators.
AGO (Monday – Friday Movement)
Sigmund: ₦1,720 → ₦1,718 (−₦2)
Diesel pricing in the region remained largely stable with only marginal movement.
MARKET OUTLOOK
The overall pricing structure across Nigeria’s downstream depots reflects a controlled easing cycle rather than a sharp downturn.
Key observations from the review period include:
- PMS prices remained largely stable with only marginal declines
- AGO experienced more visible corrections, especially in Lagos
- Warri maintained the most stable pricing environment
- Port Harcourt showed moderate PMS adjustments due to supply positioning
Market participants indicate that future pricing direction will depend on crude oil movement, depot stock levels, and updated pricing templates from major supply sources, particularly from Dangote Refinery.
Overall, the market continues to reflect a balanced supply environment with low volatility and gradual price realignment across regions.