PMS (Premium Motor Spirit)
PMS prices experienced noticeable fluctuations this week, largely driven by the competitive dynamics between Dangote Refinery and independent importers. With Dangote consistently refining and distributing at competitive rates, importers have been compelled to adjust their pricing strategies downward to remain relevant in the market. This rivalry has generally pushed prices lower, benefiting buyers and increasing market liquidity. However, midweek highs suggest that regional logistics and distribution bottlenecks occasionally influenced prices.
Weekly PMS Prices:
Monday: Dangote ₦999 | Wosbab ₦1005
Tuesday: Coolspring ₦997 | Wosbab ₦1005
Wednesday: Coolspring ₦997 | Aipec ₦1002
Thursday: Dangote ₦997 | Rainoil ₦1010
Friday: Aiteo ₦990 | Wosbab ₦1005
Key Insight:
The lowest price of ₦990 (Friday, Aiteo) reflects aggressive pricing strategies as the week closed, likely due to stock clearances and heightened competition. The highest price of ₦1010 (Thursday, Rainoil) suggests temporary logistical challenges or supply concentration in specific depots.
AGO (Automotive Gas Oil – Diesel)
AGO prices this week showed an unexpected downward trend, a rare occurrence in a typically upward-biased market. The primary driver was Dangote Refinery’s limited crude stock, which constrained its AGO production. This supply gap allowed importers to capture more market share by lowering their prices. While this price drop benefits consumers, it highlights potential vulnerabilities in the market’s reliance on Dangote as a key producer.
Weekly AGO Prices:
Monday: Ibeto ₦1048 | Integrated ₦1050
Tuesday: First Royal ₦1047 | Duport ₦1050
Wednesday: Ibeto ₦1043 | Nipco ₦1070
Thursday: T.Time ₦1043 | Total ₦1050
Friday: TMDK ₦1041 | Sahara ₦1045
Key Insight:
The week closed at a low of ₦1041 (Friday, TMDK), indicating intensified price cuts by importers. The midweek spike to ₦1070 (Wednesday, Nipco) may have been driven by temporary regional shortages or strategic stockpiling.
ATK (Aviation Turbine Kerosene)
ATK prices remained remarkably stable this week, with Dangote consistently offering the lowest rates at ₦1120 across all days. The limited participation of importers in the ATK market continues to create a relatively undynamic pricing environment. Importers have largely deferred to Dangote’s price leadership, with only a few offering premium-priced alternatives for regional distribution.
Weekly ATK Prices:
Monday: Dangote ₦1120 | Duport ₦1215
Tuesday: Dangote ₦1120 | African Terminal ₦1215
Wednesday: Dangote ₦1120 | Duport ₦1215
Thursday: Dangote ₦1120 | African Terminal ₦1215
Friday: Dangote ₦1120 | Duport ₦1215
Key Insight:
The high of ₦1215 reflects a static premium likely linked to distribution costs for less accessible regions. The lack of significant importation activity keeps the market reliant on Dangote, maintaining a steady price range.
LPG (Liquefied Petroleum Gas)
LPG prices this week showed a mix of stability and minor fluctuations, largely driven by consistent supply from Dangote and Oando. While Dangote offered some of the most competitive rates at ₦1075 throughout the week, the slightly higher prices from other suppliers, such as MRS Dockyard and Oando, reflect location and logistics costs rather than fundamental supply shortages.
Weekly LPG Prices:
Monday: Dangote ₦1090 | 11Plc ₦1150
Tuesday: Dangote ₦1075 | 11Plc ₦1150
Wednesday: Dangote ₦1075 | Oando ₦1160
Thursday: MRS Dockyard ₦1150 | Oando ₦1160
Friday: Dangote ₦1075 | MRS Dockyard ₦1150
Key Insight:
The consistent low of ₦1075 highlights steady supply from Dangote, while the premium of ₦1160 (Oando, midweek) underscores the higher cost of delivering LPG to less accessible or high-demand regions.
Market Implication:
If Dangote struggles with crude imports, importers are positioned to dominate pricing across AGO, PMS, and potentially LPG, altering the competitive dynamics and possibly leading to price volatility.
