Nigeria’s downstream petroleum market closed the final trading week of 2025 with mixed movements across key depots, as operators adjusted to local supply conditions and ongoing domestic pricing dynamics. Premium Motor Spirit (PMS) prices were largely stable in Lagos, while Warri and Port Harcourt experienced minor fluctuations. Automotive Gas Oil (AGO) remained generally steady, reflecting consistent diesel availability and stable domestic supply channels.
Data tracked by Petroleumprice.ng shows that price movements between 29 December 2025 and 2 January 2026 were influenced primarily by depot-level supply adjustments rather than global crude benchmarks.
Market Fundamentals: PMS and AGO Price Adjustments
The week’s PMS movements reflected localized repricing across depots. Lagos depots exhibited limited volatility due to constrained supply, while Warri and Port Harcourt experienced minor adjustments, reflecting stock rotation and regional demand patterns. AGO prices remained stable in most depots, with minor incremental changes observed in the Lagos and Warri corridors.
Lagos Depots: Mixed PMS Movements, Stable AGO
PMS Movements (29 Dec – 2 Jan)
| Depot | Opening (₦/L) | Closing (₦/L) | Change (₦) | Trend |
|---|---|---|---|---|
| Rainoil | 800 | 800 | 0 | → |
| Nipco | 720 | 750 | +30 | ↑ |
| Integrated | 800 | 800 | 0 | → |
| Pinnacle | 840 | 840 | 0 | → |
AGO Movements (29 Dec – 2 Jan)
| Depot | Opening (₦/L) | Closing (₦/L) | Change (₦) | Trend |
|---|---|---|---|---|
| Rainoil | 920 | 920 | 0 | → |
| Nipco | 930 | 930 | 0 | → |
| Aipec | 927 | 925 | -2 | ↓ |
| Integrated | 927 | 923 | -4 | ↓ |
| Pinnacle | 935 | 938 | +3 | ↑ |
Summary:
Lagos depot prices remained generally stable over the week. PMS showed minor increases at Nipco and steady levels across Rainoil, Integrated, and Pinnacle. AGO movements were minimal, reflecting a steady diesel supply and limited market-induced volatility.
Warri Depots: Minor PMS Adjustments, Slight AGO Softening
PMS Movements (29 Dec – 2 Jan)
| Depot | Opening (₦/L) | Closing (₦/L) | Change (₦) | Trend |
|---|---|---|---|---|
| Matrix | 805 | 805 | 0 | → |
| Aym Shafa | 800 | 800 | 0 | → |
| Danmarna | 800 | 800 | 0 | → |
AGO Movements (29 Dec – 2 Jan)
| Depot | Opening (₦/L) | Closing (₦/L) | Change (₦) | Trend |
|---|---|---|---|---|
| Matrix | 945 | 945 | 0 | → |
| Aym Shafa | 945 | 935 | -10 | ↓ |
| Danmarna | 936 | 935 | -1 | ↓ |
Summary:
Warri depots displayed broadly stable PMS prices. AGO showed slight softening at Aym Shafa and Danmarna, reflecting moderate diesel availability and minor local repricing activity.
Port Harcourt Depots: PMS Gains Slightly, AGO Mostly Stable
PMS Movements (29 Dec – 2 Jan)
| Depot | Opening (₦/L) | Closing (₦/L) | Change (₦) | Trend |
|---|---|---|---|---|
| Masters | 756 | 802 | +46 | ↑ |
| Matrix | 800 | 805 | +5 | ↑ |
| Sigmund | 800 | 804 | +4 | ↑ |
AGO Movements (29 Dec – 2 Jan)
| Depot | Opening (₦/L) | Closing (₦/L) | Change (₦) | Trend |
|---|---|---|---|---|
| Masters | 965 | 980 | +15 | ↑ |
Summary:
Port Harcourt depots saw modest PMS increases, particularly at Masters. AGO prices remained largely steady, with a moderate uptick at Masters driven by regional diesel demand.
Calabar Depots: PMS Only, Steady
PMS Movements (29 Dec – 2 Jan)
| Depot | Opening (₦/L) | Closing (₦/L) | Change (₦) | Trend |
|---|---|---|---|---|
| Sobaz | 772 | 800 | +28 | ↑ |
| Matrix | 805 | 805 | 0 | → |
| Northwest | 800 | 805 | +5 | ↑ |
AGO Movements: None recorded
Summary:
Calabar PMS depots recorded moderate upward adjustments, reflecting thin market depth and incremental supply rotations. No AGO activity was recorded for the week.
Weekly Market Summary
| Region | PMS Trend | AGO Trend | Market Direction |
|---|---|---|---|
| Lagos | Mixed/Stability | Minor | Supply-constrained |
| Warri | Stable | Slight ↓ | Weak |
| Port Harcourt | Moderate ↑ | Stable | Soft |
| Calabar | Mild ↑ | — | Thin trading |
Market Outlook
PMS prices are expected to remain relatively steady near current depot benchmarks as operators continue localized inventory rotations into 2026. AGO prices may show minor softening if diesel availability improves further, though regional demand pockets, particularly in Lagos and Warri, may support small price increments.