Nigeria’s downstream petroleum market recorded mixed movements in depot prices between Monday, August 24 and Friday, August 28, 2026, as petrol pricing came under renewed pressure while diesel prices generally weakened across major trading locations.
The latest weekly review by Petroleumprice.ng shows that PMS prices increased across most depots in Lagos, while prices in Warri and Port Harcourt were largely stable. Calabar, meanwhile, recorded broad declines. AGO prices moved in the opposite direction, with significant reductions recorded across Lagos and Warri.
The market traded against a volatile international oil backdrop. Crude prices fell during parts of the week as traders assessed oil supply and shipping developments around the Strait of Hormuz, before recovering towards the end of the week, with Brent crude rising back towards $90 per barrel.
LAGOS DEPOTS
PMS (Monday–Friday Movement)
MRS Tincan: ₦1,192 → ₦1,207 (+₦15)
Pinnacle: ₦1,187 → ₦1,201 (+₦14)
African Terminal: ₦1,195 → ₦1,201 (+₦6)
Integrated: ₦1,195 → ₦1,201 (+₦6)
Bono: ₦1,200 → ₦1,201 (+₦1)
Pivot: ₦1,200 → ₦1,202 (+₦2)
Sahara: ₦1,200 → ₦1,202 (+₦2)
Lagos PMS prices moved higher across all depots. MRS Tincan recorded the largest increase at ₦15 per litre, followed by Pinnacle at ₦14. Bono posted the smallest increase at ₦1 per litre.
AGO (Monday–Friday Movement)
African Terminal: ₦1,680 → ₦1,650 (-₦30)
Integrated: ₦1,680 → ₦1,650 (-₦30)
Duport: ₦1,680 → ₦1,647 (-₦33)
Ibeto: ₦1,670 → ₦1,640 (-₦30)
Ibachem: ₦1,675 → ₦1,645 (-₦30)
Pivot: ₦1,750 → ₦1,650 (-₦100)
Rainoil: ₦1,700 → ₦1,645 (-₦55)
Pinnacle: ₦1,675 → ₦1,670 (-₦5)
Emadeb: ₦1,680 → ₦1,645 (-₦35)
Menj: ₦1,680 → ₦1,645 (-₦35)
Wosbab: ₦1,675 → ₦1,675 (₦0)
TMDK: ₦1,675 → ₦1,645 (-₦30)
T.Time: ₦1,675 → ₦1,647 (-₦28)
Gulf Treasure: ₦1,700 → ₦1,645 (-₦55)
Lagos AGO recorded a broad-based decline during the week. Pivot posted the sharpest reduction, falling by ₦100 per litre from ₦1,750 to ₦1,650. Rainoil and Gulf Treasure followed with ₦55 reductions, while Wosbab was the only depot to maintain its Monday price at ₦1,675 per litre.
WARRI DEPOTS
PMS (Monday–Friday Movement)
Nepal: ₦1,215 → ₦1,215 (₦0)
Rain Oil: ₦1,215 → ₦1,215 (₦0)
Keonamex: ₦1,215 → ₦1,215 (₦0)
Warri's PMS market remained stable during the week, with Nepal, Rain Oil and Keonamex all holding at ₦1,215 per litre.
AGO (Monday–Friday Movement)
Rain Oil: ₦1,730 → ₦1,670 (-₦60)
Prudent: ₦1,735 → ₦1,671 (-₦64)
Warri AGO prices declined sharply across the depots. Prudent recorded the largest reduction at ₦64 per litre, while Rain Oil fell by ₦60 following its price review during the week.
PORT HARCOURT DEPOTS
PMS (Monday–Friday Movement)
Liquid Bulk: ₦1,215 → ₦1,215 (₦0)
TSL: ₦1,215 → ₦1,215 (₦0)
Masters: ₦1,215 → ₦1,210 (-₦5)
Port Harcourt's PMS market was largely stable. Liquid Bulk and TSL retained their prices at ₦1,215 per litre, while Masters recorded a marginal ₦5 reduction.
AGO (Thursday–Friday Movement)
Bulk Strategic: ₦1,706 → ₦1,700 (-₦6)
For Bulk Strategic, it's price fell from ₦1,706 per litre on Thursday, August 27, to ₦1,700 on Friday, August 28.
The depot has not been presented as a Monday–Friday movement because no Port Harcourt AGO price was supplied for Monday, August 24.
CALABAR DEPOTS
PMS (Monday–Friday Movement)
Mainland: ₦1,210 → ₦1,203 (-₦7)
Soroman: ₦1,210 → ₦1,203 (-₦7)
Jenny: ₦1,213 → ₦1,205 (-₦8)
Sobaz: ₦1,215 → ₦1,205 (-₦10)
Calabar recorded a broad-based decline in PMS prices among the depots. Sobaz posted the largest reduction at ₦10 per litre, followed by Jenny at ₦8, while Mainland and Soroman each declined by ₦7.
MARKET OUTLOOK
The Lagos PMS market is entering the new week under fresh upward pressure after Dangote Petroleum Refinery raised its gantry price by ₦65 per litre to ₦1,265, effective August 29.
The increase came after the refinery had already raised its gantry price from ₦1,185 to ₦1,200 on August 26. Friday's monitored Lagos depot prices, however, closed mostly around ₦1,201–₦1,202 per litre.
The latest adjustment is expected to influence depot prices in the new week, while Brent crude also recovered towards $90 per barrel by the close of trading after falling during parts of the week.
Meanwhile, Lagos AGO prices moved in the opposite direction, with most matched depots recording reductions during the week.