The Nigerian downstream petroleum market recorded a sharp upward adjustment in depot prices for both Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) between 27th and 30th April 2026, signalling renewed cost pressure across the fuel distribution network. The latest PMS increase is closely tied to the recent upward review by Dangote Refinery, which raised its ex-depot price from ₦1,200 to ₦1,275, a move that has added fresh strain on domestic supply chains and influenced pricing behaviour across downstream depots nationwide.
The broader pricing trend reflects widespread increases across Lagos, Warri, Port Harcourt, and Calabar depots, driven by tightening supply conditions, higher product replacement costs, and sustained demand pressure along key distribution corridors.
LAGOS DEPOTS
PMS (Monday – Thursday Movement)
Lagos PMS prices recorded a uniform upward adjustment across all depots, with most pricing converging around the ₦1279–₦1300 range:
A.A Rano: ₦1204 → ₦1280 (+₦76)
Ascon: ₦1204 → ₦1280 (+₦76)
Bono: ₦1205 → ₦1280 (+₦75)
Integrated: ₦1204 → ₦1279 (+₦75)
Techno Oil: ₦1210 → ₦1280 (+₦70)
Aiteo: ₦1207 → ₦1280 (+₦73)
Rain Oil: ₦1220 → ₦1300 (+₦80)
Lagos depots showed a tight pricing band by Thursday, indicating strong market alignment in response to upstream cost pressures.
AGO (Monday – Thursday Movement)
Lagos AGO prices also moved upward, though with mixed stability in some depots:
Nipco: ₦1870 → ₦1940 (+₦70)
TMDK: ₦1950 → ₦1950 (unchanged)
The AGO market reflects moderate upward pressure, with diesel demand remaining firm across transport and industrial segments.
WARRI DEPOTS
PMS (Monday – Thursday Movement)
Warri recorded the strongest PMS surge among all regions, with increases exceeding ₦100 in some depots:
Matrix: ₦1230 → ₦1335 (+₦105)
Prudent: ₦1228 → ₦1325 (+₦97)
Optima: ₦1228 → ₦1325 (+₦97)
Nepal: ₦1228 → ₦1325 (+₦97)
Warri PMS pricing reflects aggressive upward repricing, likely driven by logistics cost adjustments and inland distribution pressure.
AGO (Monday – Thursday Movement)
Warri AGO market showed mixed but largely upward movement:
Matrix: ₦2050 → ₦2100 (+₦50)
Prudent: ₦2000 → ₦1950 (−₦50)
Nipco: ₦1927 → ₦1950 (+₦23)
Danmarna: ₦1930 → ₦1950 (+₦20)
A.Y.M Shafa: ₦1950 → ₦2100 (+₦150)
The region remains volatile, with simultaneous upward spikes and selective corrections.
PORT HARCOURT DEPOTS
PMS (Monday – Thursday Movement)
Masters: ₦1230 → ₦1328 (+₦98)
Liquid Bulk: ₦1230 → ₦1325 (+₦95)
Port Harcourt PMS followed the national upward trend, reflecting strong regional alignment with Lagos and Warri pricing movements.
AGO (Monday – Thursday Movement)
Sigmund: ₦1950 → ₦2100 (+₦150)
Bulk Strategic: ₦1925 → ₦2000 (+₦75)
Port Harcourt AGO recorded a notable upward surge, with prices crossing the ₦2000 threshold.
CALABAR DEPOTS
PMS (Monday – Thursday Movement)
Soroman: ₦1230 → ₦1312 (+₦82)
Calabar PMS recorded a steady upward adjustment, though still lower than Warri and Port Harcourt peaks.
AGO (Monday – Wednesday Movement)
Northwest: ₦1835 → ₦1985 (+₦150)
Calabar AGO saw a sharp increase, moving closer to the ₦2000 mark within the period.
MARKET OUTLOOK
PMS prices recorded uniform upward movement across all depots, indicating strong upstream cost transmission.
Warri and Port Harcourt showed the most aggressive PMS increases.
AGO prices remained volatile but generally upward, with isolated corrections in Warri.
Calabar showed strong diesel price acceleration, despite relatively stable petrol movement.
Going forward, downstream pricing will continue to be influenced by supply tightness, oil price volatility, foreign exchange pressures, and distribution logistics across key depots.