Depot prices for petrol and diesel rose across Nigeria’s four major downstream trading locations during the week ending, driven by refinery price adjustments and rising global crude costs.
Depots in Lagos, Warri, Port Harcourt and Calabar, showed broad-based increases in both Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) prices.
In Lagos, petrol prices converged towards N1,280 per litre across most depots, with Pinnacle posting the largest gain after its PMS price moved from N1,266 to N1,290 per litre.
Most other Lagos depots, including Integrated, Ascon, Sahara, Aiteo and Nipco, closed the week at N1,280.
The diesel market saw far sharper movement. Pinnacle’s AGO price jumped from N1,670 to N1,830 per litre, a rise of N160, while Rainoil and T. Time each gained N100.
Lagos AGO depot prices ranged from N1,790 to N1,830 per litre. The increases followed two separate upward revisions by the Dangote Petroleum Refinery.
The refinery raised its AGO gantry price from N1,670 to N1,750 per litre on September 1, then pushed it further to N1,850 per litre from midnight on September 4, bringing the cumulative weekly increase to N180 per litre.
Warri, Port Harcourt and Calabar Also Affected
In Warri, petrol prices moved to between N1,295 and N1,298 per litre. Prudent recorded the largest PMS gain at N24 per litre. The diesel picture was sharper: Rain Oil’s AGO price surged N210 to N1,900 per litre, while Prudent also reached N1,900, up N200 on the week.
Port Harcourt depots saw more modest petrol increases. Stockgap rose from N1,280 to N1,295 per litre, the largest gain in that market at N15. On the diesel side, Bulk Strategic increased its AGO price by N125 to N1,840 per litre.
Calabar recorded the largest petrol increases of any location during the week. Fynefield and Sobaz each rose N40 to N1,310 per litre, while Matrix gained N37 and Soroman and Hong Petroleum also moved higher.
