As of Today, August 9, 2025, depot prices across Nigeria’s petroleum corridors posted sharp declines in Premium Motor Spirit (PMS), while Automotive Gas Oil (AGO) recorded mixed movements with some depots reporting significant gains and others sharp losses.
Premium Motor Spirit (PMS) – Price Trends
Dangote Refinery (Lagos – Lekki)
| Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|
| PMS | N/A | 852 | – |
Analysis: Dangote’s is the reflection of product inflows and softer demand as more vessels discharged at Apapa.
Lagos Depot Prices (PMS)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Aiteo | PMS | 862 | 852 | -10 |
| Pinnacle | PMS | 867 | 853 | -14 |
| Menj | PMS | 856 | 853 | -3 |
Analysis: All Lagos PMS depots posted declines, with Menj recording the shortest fall of ₦3/litre, likely due to more products availability from competitors.
Port Harcourt Depot Prices (PMS)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Ever | PMS | 900 | 867 | -33 |
Analysis: Ever’s PMS drop of ₦33/litre reflects reduced market activity and stable supply inflows in the Eastern corridor.
Calabar Depot Prices (PMS)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Mainland | PMS | 900 | 870 | -30 |
| Zone 4 | PMS | 900 | 870 | -30 |
Analysis: Calabar recorded uniform ₦30/litre declines across depots, indicating stable upland trucking and balanced demand.
Warri Depot Prices (PMS)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Matrix | PMS | 890 | 860 | -30 |
| Zamson | PMS | 876 | 859 | -17 |
Analysis: PMS prices in Warri dipped moderately, aided by consistent barge arrivals and improved truck outflows to inland states.
Automotive Gas Oil (AGO) – Price Trends
Lagos Depot Prices (AGO)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| Dangote | AGO | 1035 | 992 | -43 |
| Rain Oil | AGO | 1,050 | 1,003 | -47 |
Analysis: Dangote’s diesel dropped by ₦43/litre, reflecting strong industrial demand and possible supply bottlenecks. Conversely, Rain Oil dropped ₦47/litre, suggesting temporary oversupply in its trading network.
Port Harcourt Depot Prices (AGO)
| Depot | Product | Opening (₦/L) | Closing (₦/L) | Change |
|---|---|---|---|---|
| NEPAS | AGO | N/A | 1061 | – |
Analysis: NEPAS records, indicts product availability in the regional diesel market.
Market Insight & Outlook
Between 4–8 August 2025, PMS prices fell across all regions as Brent crude eased slightly to $66.78 from $66.44, aided by multiple vessel discharges at Apapa and Warri. AGO prices moved in opposite directions with Dangote recording substantial gains while NEPAS showed strong signals.
Outlook: PMS may remain under downward pressure into mid-August as supplies stay healthy. AGO volatility is expected to persist, shaped by regional demand swings, industrial activity, and diesel import schedules.