Nigeria’s depot petrol prices fell to fresh lows in June 2025, as weaker demand and shrinking fuel distribution volumes intensified competition among suppliers.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that the country’s total automotive gasoline (PMS) supply dropped sharply by nearly 48%, from 72.36 million litres in May to 37.66 million litres in June. Distribution volumes also fell by 16.54% within the same period.
According to NMDPRA, the June PMS figures translate to a daily average evacuation of 48,025,604 litres, calculated by dividing the monthly total by 30 days. Industry operators say the lower patronage has created an oversupply situation at depots, forcing marketers into price cuts to attract buyers.
The diesel market told a different story. Automotive Gas Oil (AGO) supply in June inched up 1.73%, reaching 432.18 million litres from 424.83 million litres in May.
Household Kerosene (HHK) supply, however, saw a steep drop. June volumes fell 13% to 7.79 million litres, compared to nearly nine million litres in May. The decline in kerosene distribution mirrored the trend in petrol, as traders reported slower turnover in retail sales.
Marketers note that the sharp drop in PMS consumption could be linked to a combination of factors — from high pump prices earlier in the year to increased adoption of alternative fuels and reduced transport activity.
With demand weakening, depots have entered an aggressive price war, slashing rates to clear stocks and retain customers. Traders warn that unless consumption rebounds in the coming months, the price competition could deepen, further squeezing margins across the downstream sector.