As at 31st May 2025, petroleum depot prices across Nigeria closed the month with a marginal downtrend in most products. The latest review covering 26th to 30th May shows a consistent softening of PMS and AGO prices across the board, with LPG showing steeper drops in selected terminals. ATK remained largely stable, pointing to sustained demand in aviation fuel.
This review highlights pricing updates from the Dangote Refinery and regional depots in Dockyard, Coconut, Satellite, Delta, Port Harcourt, and Calabar axes.
Dangote Refinery Price Trends
- PMS: ₦827.5 → ₦826.5
- AGO: ₦921 → ₦917
- LPG: ₦850 → ₦850
- ATK: ₦970 → ₦970
Analysis:
Modest changes defined Dangote’s weekly pricing strategy. AGO fell by ₦4 while PMS trimmed ₦1 per litre. LPG and ATK held steady, indicating inventory stability and balanced offtake.
Dockyard Axis Depot Prices
- NIPCO (PMS): ₦837 → ₦833
- Aiteo (PMS): ₦830 → ₦828
- NIPCO (AGO): ₦915 → ₦915
- Ardova (LPG): ₦895 → ₦870
- 11PLC (LPG): ₦890 → ₦880
Analysis:
LPG was the primary mover at Dockyard depots, falling by ₦15–₦25 per litre. PMS also declined modestly. AGO remained unchanged, suggesting consistent supply-demand balance.
Coconut Axis Depot Prices
- Aipec (PMS): ₦830 → ₦828
- MRS Tincan (PMS): ₦830 → ₦829
- Ibeto (AGO): ₦918 → ₦915
- Ibachem (AGO): ₦917 → ₦915
- Africa Terminal (ATK): ₦1030 → ₦1030
Analysis:
Coconut depots saw slight adjustments in PMS and AGO, with ATK remaining unchanged.
Satellite Axis Depot Prices
- AA Rano (PMS): ₦830 → ₦828
- Menj (PMS): ₦830 → ₦828
- Mao (AGO): ₦915 → ₦911
- Menj (AGO): ₦915 → ₦911
- Rainoil (LPG): ₦895 → ₦890
- AA Rano (LPG): ₦885 → ₦880
- Rainoil (ATK): ₦1030 → ₦1025
Analysis:
Satellite depots mirrored national diesel trends, with AGO prices shedding ₦4. LPG and ATK posted modest declines, while PMS dipped by ₦2.
Delta Axis Depot Prices
- Matrix Warri (PMS): ₦860 → ₦857
- A&E (PMS): ₦855 → ₦854
- First Fortune (PMS): ₦855 → ₦856
- Edo Refinery (AGO): ₦948 → ₦946
- Optima (AGO): ₦949 → ₦948
- Matrix Warri (AGO): ₦950 → ₦950
- Matrix Warri (ATK): ₦1010 → ₦1010
Analysis:
Prices remained largely steady in the Delta region, with minimal changes across all product types. The stable ATK price reflects persistent aviation fuel demand, while PMS and AGO saw only minor fluctuations.
Port Harcourt Depot Overview
- SIGMUND (PMS): ₦875 → ₦870
- EVER (PMS): ₦876 → ₦871
- T.S.L (PMS): ₦875 → ₦872
- Bulk Strategic (AGO): ₦958 → ₦953
Analysis:
The Port Harcourt corridor closed the week with modest price drops in both PMS and AGO, down by ₦3–₦5 per litre. Market watchers cite reduced throughput and localised competition as key contributors.
Calabar Depot Summary
- Mainland (PMS): ₦875 → ₦871
- Hyde (PMS): ₦870 → ₦870
- Alkanes (PMS): ₦875 → ₦872
Analysis:
Calabar saw minor PMS price drops, while Hyde held steady. These movements suggest low pressure on depot inventories and a calm pricing environment in the southeastern corridor.
Market Insight and Outlook
Depot prices across Nigeria continued on a downward trend during the week ending 30th May 2025. Declines in PMS and AGO were most pronounced in the Dockyard, Satellite, and Port Harcourt regions. LPG saw deeper corrections at select terminals, while ATK remained largely flat nationwide.
With Brent crude averaging below $70 and import logistics stabilising, further moderation is likely in early June. Analysts recommend that marketers monitor international movements while regulators sustain oversight for pricing transparency.