As of today 7th June 2025, depot prices across Nigeria showed marginal fluctuations across major petroleum products. The latest review, covering the four-day stretch from 2nd to 5th June, revealed stable to slightly declining PMS and LPG prices, with AGO observing some regional increases, particularly in the Dockyard axis. ATK saw mild corrections in select depots, while others maintained previous pricing levels.
This report covers verified depot data from Dangote Refinery, Dockyard, Coconut, Satellite, Delta, Port Harcourt, and Calabar axes.
Dangote Refinery Price Trends
- PMS: ₦827 → ₦828
- AGO: ₦917 → ₦918
- LPG: ₦850 → ₦845
- ATK: ₦970 → ₦962
Analysis:
Prices at the Dangote Refinery remained mostly steady, with slight upticks on PMS and AGO. LPG declined marginally by ₦5, while ATK posted an ₦8 drop, possibly reflecting lower off-take from aviation marketers mid-week.
Dockyard Axis Depot Prices
- NIPCO (PMS): ₦833 → ₦832
- Aiteo (PMS): ₦826 → ₦826
- NIPCO (AGO): ₦913 → ₦925
- Ardova (LPG): ₦875 → ₦865
- NIPCO (LPG): ₦880 → ₦870
Analysis:
While PMS was largely flat, AGO at NIPCO rose significantly by ₦12, indicating possible tightness in diesel supply. Meanwhile, LPG fell at both Ardova and NIPCO, signalling reduced demand or stronger coastal inflows.
Coconut Axis Depot Prices
- Aipec (PMS): ₦827 → ₦827
- Integrated (PMS): ₦827 → ₦827
- Ibeto (AGO): ₦915 → ₦915
- Ibachem (AGO): ₦915 → ₦915
- Africa Terminal (ATK): ₦1030 → ₦1025
Analysis:
PMS and AGO held firm across Coconut depots, reflecting market equilibrium. ATK, however, saw a ₦5 drop at Africa Terminal, a minor adjustment tied to aviation demand variability.
Satellite Axis Depot Prices
- AA Rano (PMS): ₦827 → ₦827
- Menj (PMS): ₦827 → ₦825
- Mao (AGO): ₦912 → ₦912
- Wosbab (AGO): ₦915 → ₦915
- Rainoil (LPG): ₦880 → ₦880
- AA Rano (LPG): ₦880 → ₦880
- Rainoil (ATK): ₦1025 → ₦1020
Analysis:
Minimal movement characterised the Satellite region. Only Menj recorded a ₦2 reduction in PMS, while ATK at Rainoil dropped ₦5. AGO and LPG remained unchanged, indicating ample product availability.
Delta Axis Depot Prices
- Matrix Warri (PMS): ₦857 → ₦850
- A&E (PMS): ₦850 → ₦850
- First Fortune (PMS): ₦855 → ₦850
- Edo Refinery (AGO): ₦945 → ₦940
- Optima (AGO): ₦947 → ₦940
- Matrix Warri (AGO): ₦947 → ₦940
- Matrix Warri (ATK): ₦1010 → ₦1010
Analysis:
Delta depots saw mild corrections across PMS and AGO, with all AGO suppliers aligning at ₦940. ATK remained unchanged, highlighting consistent aviation activity from the Warri terminal.
Port Harcourt Depot Overview
- SIGMUND (PMS): ₦869 → ₦865
- Masters (PMS): ₦870 → ₦867
- T.S.L (PMS): ₦870 → ₦865
- Bulk Strategic (AGO): ₦949 → ₦945
Analysis:
Port Harcourt depots experienced moderate price reductions across PMS and AGO. The decreases, ranging from ₦2 to ₦4, suggest strong competition and possibly softer regional throughput.
Calabar Depot Summary
- Mainland (PMS): ₦870 → ₦865
- Hyde (PMS): ₦870 → ₦865
Analysis:
Calabar recorded a ₦5 drop in PMS pricing across both tracked depots, aligned with trends observed in other southeastern coastal terminals.
Market Insight and Outlook
The week ending 5th June 2025 showed moderate downward pricing across PMS and LPG, while AGO remained mixed, with notable gains at NIPCO. ATK prices dipped slightly in Lagos and Satellite, holding steady in Delta.
With Brent crude stabilising above $66 and US–China trade optimism supporting global sentiment, depot prices may remain range-bound into next week. Local marketers are advised to monitor inventory cycles closely and anticipate further adjustments based on shipping schedules and refinery releases.