The Nigerian downstream petroleum market recorded mixed but largely stable price movements between 20th and 24th April 2026, as depot prices for Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) adjusted across key locations.
The week reflects a combination of improved product availability, competitive depot pricing, and steady distribution across major regional supply hubs.
LAGOS DEPOTS
PMS (Monday – Friday Movement)
Lagos PMS prices showed mild fluctuations across major marketers:
- Rain Oil: ₦1206 → ₦1230 (up ₦24)
- Bono: ₦1207 → ₦1205 (down ₦2)
- Ascon: ₦1206 → ₦1204/₦1205 (marginal movement)
- Nipco: ₦1206 → ₦1204/₦1205 (slight decline)
- Aiteo: ₦1206 → ₦1204/₦1205 (slight decline)
- Pinnacle: ₦1204 → ₦1204 (stable)
AGO (Monday – Friday Movement)
Lagos AGO prices reflected stronger upward pressure during the week:
- Nipco: ₦1755 → ₦1845–₦1880 (increase)
- Duport: ₦1760 → ₦1890–₦2000 (sharp increase)
- Ibachem: ₦1760 → ₦1890–₦1930 (increase)
- TMDK: ₦1760 → ₦1905 (increase)
Lagos AGO market maintained a firm upward trend driven by tightening supply and higher replacement costs.
WARRI DEPOTS
PMS (Monday – Friday Movement)
Warri PMS market remained relatively stable with minor adjustments:
- Matrix: ₦1230 → ₦1220 (down ₦10)
- Danmarna: ₦1228 → ₦1220 (down ₦8)
- Rain Oil: ₦1230 → ₦1220 (down ₦10)
- Prudent: ₦1230 → ₦1220 (down ₦10)
- Nepal: ₦1230 → ₦1220 (down ₦10)
- Pinnacle: ₦1228 → ₦1218–₦1220 (slight decline)
AGO (Monday – Friday Movement)
Warri AGO prices trended higher across the week:
- Matrix: ₦1835 → ₦1950 (increase)
- Danmarna: ₦1820 → ₦1900 (increase)
- Nipco: ₦1825 → ₦1900 (increase)
- First Fortune: ₦1824 → ₦1900 (increase)
The upward movement reflects tighter inland supply and stronger diesel demand from industrial users.
PORT HARCOURT DEPOTS
PMS (Monday – Friday Movement)
- Masters: ₦1230 → ₦1230 (stable)
Port Harcourt PMS market remained flat, indicating balanced supply conditions.
AGO (Monday – Friday Movement)
- Sigmund: ₦1860 → ₦1950 (increase)
- Matrix: ₦1850 → ₦1950 (increase)
The AGO segment recorded a strong upward adjustment, driven by regional demand and tightening availability.
CALABAR DEPOTS
PMS (Monday – Friday Movement)
- Soroman: ₦1230 → ₦1230 (stable)
- Northwest: ₦1230 → ₦1230 (stable)
Calabar PMS prices remained unchanged throughout the week, reflecting steady demand and stable supply conditions.
MARKET OUTLOOK
- PMS prices were largely stable across regions with mild fluctuations in Lagos and Warri.
- AGO prices showed a stronger upward trend, especially in Lagos and Warri depots.
- Port Harcourt AGO also recorded significant increases, reflecting tighter supply conditions.
- Calabar PMS remained the most stable segment in the week under review.
Going forward, market direction will continue to be shaped by supply availability, coastal cargo arrivals, and downstream distribution efficiency.