Nigeria’s downstream petroleum market recorded mixed movements in depot prices between Monday, September 7 and Friday, September 11, 2026, as rising crude oil prices and higher petroleum product replacement costs reshaped wholesale pricing across key trading locations.
The latest weekly review by Petroleumprice.ng shows that PMS prices declined in Warri, Port Harcourt and Calabar, while Lagos recorded increases at most depots with comparable prices. AGO prices, however, moved higher across Lagos, Warri and Port Harcourt, with the sharpest increase recorded in Port Harcourt.
The week’s movements came against a significant rise in international oil prices, which increased the cost of replacing petroleum products and placed fresh pressure on domestic wholesale prices.
LAGOS DEPOTS
PMS (Monday–Friday Movement)
Integrated: ₦1,279 → ₦1,290 (+₦11)
Sahara: ₦1,279 → ₦1,290 (+₦11)
Ascon: ₦1,270 → ₦1,290 (+₦20)
Pinnacle: ₦1,266 → ₦1,275 (+₦9)
MRS Tincan: ₦1,267 → ₦1,267 (₦0)
Lagos PMS prices generally moved higher during the week. Ascon recorded the largest increase at ₦20 per litre, rising from ₦1,270 to ₦1,290, while Integrated and Sahara each gained ₦11. Pinnacle increased by ₦9, while MRS Tincan remained unchanged at ₦1,267 per litre.
The Lagos PMS market also showed signs of tightening ahead of Friday’s refinery price adjustment. On Wednesday, some depot marketers withheld sales as operators assessed rising replacement costs, while higher depot offers emerged in anticipation of an upward review by Dangote Petroleum Refinery.
That expectation materialised on Friday when Dangote Refinery raised its PMS gantry price by ₦85 per litre, from ₦1,265 to ₦1,350 per litre. The adjustment came after crude oil prices had risen sharply and PMS landing costs moved higher, creating additional pressure on the wholesale market.
AGO (Monday–Friday Movement)
Integrated: ₦1,790 → ₦1,835 (+₦45)
African Terminal: ₦1,790 → ₦1,830 (+₦40)
Duport: ₦1,790 → ₦1,810 (+₦20)
Ibachem: ₦1,800 → ₦1,810 (+₦10)
Gulf Treasure: ₦1,790 → ₦1,830 (+₦40)
Ascon: ₦1,800 → ₦1,830 (+₦30)
Chipet: ₦1,782 → ₦1,815 (+₦33)
Pinnacle: ₦1,830 → ₦1,830 (₦0)
Nipco: ₦1,850 → ₦1,950 (+₦100)
Bovas: ₦1,800 → ₦1,810 (+₦10)
T. Time: ₦1,790 → ₦1,840 (+₦50)
Lagos AGO recorded broad increases during the week, although the extent varied by depot. Nipco posted the largest increase at ₦100 per litre, moving from ₦1,850 to ₦1,950, while T. Time gained ₦50.
Integrated and African Terminal increased by ₦45 and ₦40 respectively, while Gulf Treasure also gained ₦40. Ibachem and Bovas recorded the smallest increases among the depots that moved, at ₦10 per litre each. Pinnacle remained unchanged at ₦1,830.
WARRI DEPOTS
PMS (Monday–Friday Movement)
Rainoil: ₦1,300 → ₦1,285 (-₦15)
Nepal: ₦1,280 → ₦1,267 (-₦13)
Optima: ₦1,280 → ₦1,267 (-₦13)
Warri’s comparable PMS prices moved lower during the week. Rainoil recorded the largest decline at ₦15 per litre, while Nepal and Optima each fell by ₦13.
AGO (Monday–Friday Movement)
Rainoil: ₦1,850 → ₦1,900 (+₦50)
Zamson: ₦1,850 → ₦1,900 (+₦50)
Warri AGO moved higher during the week, with both Rainoil and Zamson increasing their prices by ₦50 per litre to ₦1,900.
PORT HARCOURT DEPOTS
PMS (Monday–Friday Movement)
Stockgap: ₦1,280 → ₦1,267 (-₦13)
Masters: ₦1,280 → ₦1,267 (-₦13)
Port Harcourt’s comparable PMS prices declined by ₦13 per litre, with both Stockgap and Masters closing Friday at ₦1,267.
AGO (Monday–Friday Movement)
Bulk Strategic: ₦1,845 → ₦1,980 (+₦135)
Bulk Strategic recorded the largest comparable AGO increase across the reviewed locations, rising by ₦135 per litre from ₦1,845 on Monday to ₦1,980 on Friday.
CALABAR DEPOTS
PMS (Monday–Friday Movement)
Mainland: ₦1,295 → ₦1,285 (-₦10)
Soroman: ₦1,295 → ₦1,290 (-₦5)
Calabar’s comparable PMS prices also declined during the week. Mainland recorded a ₦10 per litre reduction, while Soroman fell by ₦5.
MARKET OUTLOOK
Nigeria’s PMS landing cost has climbed to ₦1,311 per litre, putting fresh pressure on depot owners and marketers as the cost of replacing petrol stocks rises. The increase comes amid a sharp rise in international crude oil prices, further tightening downstream trading economics.
The pressure was particularly evident in Lagos, where some depot operators withheld PMS sales on Wednesday as they assessed replacement costs and awaited the direction of Dangote Petroleum Refinery’s pricing. Some available products were also offered at higher prices in anticipation of an upward refinery adjustment.
That expectation materialised on Friday when Dangote Refinery raised its PMS gantry price by ₦85 per litre, from ₦1,265 to ₦1,350 per litre, creating a new benchmark for the wholesale market.
With the latest Dangote increase, depot marketers are expected to review their PMS prices on Monday at the start of the new trading week, as operators adjust their selling positions to reflect the higher refinery benchmark and rising replacement costs.