As of today Saturday, August 2, 2025, depot prices across Nigeria’s petroleum corridors showed a consistent upward movement in Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), while Liquefied Petroleum Gas (LPG) experienced selective declines. Aviation Turbine Kerosene (ATK) stayed largely stable.
Dangote Refinery Price Trends (Lagos – Lekki)
| Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|
| PMS | 820.5 | 858 | +37.5 |
| AGO | 994 | 1043 | +49 |
| LPG | 790 | 735 | -55 |
| ATK | 1010 | 1010 | 0 |
Analysis:
PMS and AGO recorded significant upward adjustments, reflecting Surge in Global Crude oil prices. LPG fell sharply by ₦55/litre, possibly due to oversupply or lower domestic uptake. ATK maintained a flat rate, indicating stable jet fuel demand and minimal aviation sector disruption.
Coconut Axis Depot Prices (Lagos)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Sahara | PMS | 815 | 870 | +55 |
| Aipec | PMS | 815 | 865 | +50 |
| Ibeto | AGO | 1010 | 1050 | +40 |
| Integrated | AGO | 1008 | 1050 | +42 |
Analysis:
PMS rose sharply across Coconut depots, with Sahara recording a ₦55/litre jump, reflecting Surge in Global Crude oil prices. AGO prices also spiked, consistent with regional diesel demand growth.
Satellite Axis Depot Prices (Lagos)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Menj | PMS | 815 | 860 | +45 |
| AA Rano | PMS | 815 | 865 | +50 |
| Menj | AGO | 1004 | 1050 | +46 |
| Rainoil | LPG | 850 | 835 | -15 |
Analysis:
Depot price increases at Satellite followed a similar trajectory, with AGO and PMS showing strong upward pressure due to the global oil rice. Rainoil’s LPG decline may suggest moderated domestic cylinder sales or increased LPG offloading into the market.
Dockyard Axis Depot Prices (Apapa, Lagos)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Nipco | PMS | 818 | 870 | +52 |
| Aiteo | PMS | 815 | 865 | +50 |
| Nipco | AGO | 1010 | 1130 | +120 |
| 11PLC | LPG | 812 | 810 | -2 |
| Ardova | LPG | 807 | 800 | -7 |
Analysis:
Dockyard reported the most significant AGO jump, with Nipco’s diesel surging by ₦120/litre which is tied to global oil rice. Minor LPG drops suggest pricing readjustments post-import, reflecting Surge in Global Crude oil prices.
Delta Depot Prices (Warri)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Matrix Warri | PMS | 826 | 890 | +64 |
| Rainoil | PMS | 830 | 890 | +60 |
| A&E | PMS | 825 | 888 | +63 |
| A.Y.M | AGO | 1010 | 1150 | +140 |
| Taurus | AGO | 1030 | 1090 | +60 |
| First Fortune | AGO | 1030 | 1100 | +70 |
| Matrix Warri | ATK | 1005 | 1035 | +30 |
Analysis:
Warri depots posted the steepest increases across the board. AYM’s AGO jumped ₦140/litre the highest in this review. PMS nearing ₦900 signals escalating inland distribution costs, reflecting Surge in Global Crude oil prices.
Port Harcourt Depot Prices
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Masters | PMS | 845 | 887 | +42 |
| Sigmund | PMS | 840 | 900 | +60 |
| Ever | PMS | 843 | 900 | +57 |
| Bulk Strategic | AGO | 1040 | 1085 | +45 |
| Master | AGO | 1040 | 1110 | +70 |
Analysis:
Port Harcourt’s PMS moved upward across all operators, driven by increasing demand and costlier coastal logistics, reflecting Surge in Global Crude oil prices.
Calabar Depot Prices
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Soroman | PMS | 840 | 867 | +27 |
| Fynefield | PMS | 838 | 900 | +62 |
| Zone 4 | PMS | 834 | 900 | +66 |
Analysis:
PMS price acceleration was sharpest at Zone 4 and Fynefield, reflecting Surge in Global Crude oil prices. high upland demand in southeastern corridors.
Market Insight & Outlook
Depot prices from 28 July to 01 August 2025 reflect rising petroleum product demand, FX-induced supply chain challenges, and moderated LPG uptake. Key insights:
- PMS: Prices exceeded ₦890/litre in several depots — signalling possible retail hikes in the new week.
- AGO: Surged above ₦1100/litre in multiple terminals, particularly Delta and Dockyard — hinting at constrained diesel flows or speculative stockpiling.
- LPG: While Dangote’s ₦55 drop was sharp, other depots only experienced minor corrections.
- ATK: Stayed stable, with Matrix Warri the only depot reporting a ₦30/litre rise.
Going forward, depot pricing will hinge on Dangote Refinery’s loading frequency, currency volatility, and vessel arrivals at Apapa and Warri jetties. Marketers and regulators may also begin strategic price modulation to avoid sharp retail volatility nationwide.