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08024545197Nigeria’s downstream petroleum market recorded broad-based declines in petrol and diesel depot prices between Monday, November 9, and Friday, November 13, as monitored depot prices fell across Lagos, Warri, Port Harcourt and Calabar.
Lagos recorded significant adjustments in both products, with the average PMS price across depots falling by ₦79.71 per litre, while AGO declined by ₦67.75. Petrol and diesel prices also eased in Warri and Port Harcourt.
The week also featured fresh changes to Dangote Refinery’s petrol pricing arrangement. The refinery returned to an EBOB-linked pricing model, while its consortium marketers reduced their petrol selling price to ₦1,215 per litre from ₦1,240. Separately, Lagos depot marketers quoted diesel below Dangote Refinery’s revised gantry price of ₦1,720 per litre.
Pinnacle: ₦1,271 → ₦1,205 (-₦66)
Nipco: ₦1,267 → ₦1,180 (-₦87)
African Terminal: ₦1,265 → ₦1,185 (-₦80)
Integrated: ₦1,265 → ₦1,185 (-₦80)
Ascon: ₦1,265 → ₦1,185 (-₦80)
Aiteo: ₦1,250 → ₦1,175 (-₦75)
Wosbab: ₦1,270 → ₦1,180 (-₦90)
The average petrol price across most depots declined from ₦1,264.71 to ₦1,185 per litre, representing a reduction of ₦79.71.
Pinnacle: ₦1,770 → ₦1,770 (no change)
Integrated: ₦1,760 → ₦1,680 (-₦80)
Ascon: ₦1,760 → ₦1,685 (-₦75)
Duport: ₦1,760 → ₦1,680 (-₦80)
Gulf Treasure: ₦1,760 → ₦1,686 (-₦74)
African Terminal: ₦1,760 → ₦1,685 (-₦75)
Ibachem: ₦1,760 → ₦1,685 (-₦75)
Eterna: ₦1,768 → ₦1,685 (-₦83)
The average diesel price across the most depots fell from ₦1,762.25 to ₦1,694.50 per litre, a decrease of ₦67.75.
Matrix: ₦1,285 → ₦1,230 (-₦55)
Parker: ₦1,283 → ₦1,242 (-₦41)
A.Y.M Shafa: ₦1,285 → ₦1,242 (-₦43)
The average petrol price declined from ₦1,284.33 to ₦1,238 per litre, representing a reduction of ₦46.33.
Matrix: ₦1,800 → ₦1,730 (-₦70)
Edo Refinery: ₦1,810 → ₦1,730 (-₦80)
Nipco: ₦1,800 → ₦1,735 (-₦65)
Rain Oil: ₦1,800 → ₦1,730 (-₦70)
The average diesel price dropped from ₦1,802.50 to ₦1,731.25 per litre, a decrease of ₦71.25.
Masters: ₦1,307 → ₦1,225 (-₦82)
The petrol price at Masters declined by ₦82 per litre during the week. Only one depot had comparable PMS quotations on both dates.
Bulk Strategic: ₦1,810 → ₦1,750 (-₦60)
Masters: ₦1,810 → ₦1,710 (-₦100)
Nepas: ₦1,810 → ₦1,755 (-₦55)
The average diesel price across the most depots in Warri fell from ₦1,810 to ₦1,738.33 per litre, representing a reduction of ₦71.67.
Alkanes: ₦1,285 → ₦1,215 (-₦70)
In Calabar product were not evenly available.
The week ended with lower petrol and diesel depot prices across all four monitored locations where products were available. In Lagos, the reduction in Dangote consortium marketers' petrol price and the return to EBOB-linked pricing added to the changing wholesale pricing environment, while private depot diesel quotations remained below the refinery's revised gantry benchmark.
Marketers and bulk buyers will continue to monitor Dangote Refinery's pricing decisions, competition among depot operators and product supply conditions for further changes in wholesale prices. The next round of depot adjustments will depend on how these factors influence procurement costs and marketers' selling decisions.
About the Author
Innocent Precious is a writer with a keen eye on Nigeria’s oil and gas sector, economic policy, and downstream petroleum developments. He translates complex industry trends, refinery operations, fuel pricing, tanker movements, and regulatory shifts into engaging, data-driven narratives. His work blends analytical depth with clarity, producing SEO-optimised content that informs, educates, and captivates readers. Passionate about storytelling, Goli Innocent bridges the gap between technical insights and public understanding, making the energy landscape accessible to all.
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