Between September 15 and 19, depot price movements across Lagos, Warri, Calabar, and Port Harcourt revealed a clear trend: petrol (PMS) moved in narrow bands while diesel (AGO) remained persistently expensive, though softening in some hubs. The following analysis uses only depots that appeared in both the 15th and 19th records, keeping the numbers exactly as provided.
Premium Motor Spirit (PMS) – Tracking the Shifts
Lagos Depot Prices (PMS)
| Depot | 15 Sept (₦/L) | 19 Sept (₦/L) | Change |
|---|---|---|---|
| Pinnacle | 823 | 845 | +22 |
| Rainoil | 846 | 865 | +19 |
| MENJ | 836 | 835 | -1 |
| First Royal | 836 | 835 | -1 |
Analysis:
Lagos petrol prices climbed at Pinnacle and Rainoil (+₦19–₦22), while MENJ and First Royal dipped slightly (-₦1 each). The mixed moves reflect how depot operators balance demand, trucking costs, and competition.
Warri Depot Prices (PMS)
| Depot | 15 Sept (₦/L) | 19 Sept (₦/L) | Change |
|---|---|---|---|
| Matrix | 865 | 855 | -10 |
| Rainoil | 865 | 855 | -10 |
| AYM Shafa | 865 | 855 | -10 |
| Parker | 863 | 853 | -10 |
| A&E | 853 | 853 | 0 |
Analysis:
Warri consistently shaved ₦10/litre off petrol prices across major depots, except A&E which stayed flat. The correction signals strong supply pressure and competitive adjustments.
Port Harcourt Depot Prices (PMS)
| Depot | 15 Sept (₦/L) | 19 Sept (₦/L) | Change |
|---|---|---|---|
| TSL | 863 | 858 | -5 |
| Bulk Strategic | 863 | 860 | -3 |
| Sigmund | 864 | 860 | -4 |
Analysis:
Port Harcourt PMS prices slipped ₦3–₦5, showing a softening trend. This underlines the region’s price-sensitive dynamics, where even slight cost changes ripple quickly.
Calabar Depot Prices (PMS)
| Depot | 15 Sept (₦/L) | 19 Sept (₦/L) | Change |
|---|---|---|---|
| Matrix | 853 | 860 | +7 |
| Soroman | 851 | — | — |
Analysis:
Calabar prices ticked up slightly at Matrix (+₦7), while Soroman remained absent after the 15th. The upward move reflects higher freight premiums into the Southeast corridor.
Automotive Gas Oil (AGO) – Diesel Holds Firm
Lagos Depot Prices (AGO)
| Depot | 15 Sept (₦/L) | 19 Sept (₦/L) | Change |
|---|---|---|---|
| Rainoil | 980 | 970 | -10 |
| MENJ | 980 | 980 | 0 |
Analysis:
Lagos diesel diverged sharply: Rainoil slashed ₦10/litre, while MENJ held flat at ₦980. This contrast highlights aggressive price plays in an otherwise rigid diesel market.
Warri Depot Prices (AGO)
| Depot | 15 Sept (₦/L) | 19 Sept (₦/L) | Change |
|---|---|---|---|
| Matrix | 1050 | 1010 | -40 |
| Rainoil | 1010 | 1008 | -2 |
| AYM Shafa | 1050 | 1007 | -43 |
| NIPCO | 1009 | 1007 | -2 |
| Edo Refinery | 1010 | 1009 | -1 |
| Taurus | 1009 | 1006 | -3 |
Analysis:
Warri diesel prices corrected significantly, especially at Matrix and AYM Shafa (-₦40 to -₦43). Even so, AGO remains above ₦1,000 across the board, keeping upward pressure on industry and transport.
Port Harcourt Depot Prices (AGO)
| Depot | 15 Sept (₦/L) | 19 Sept (₦/L) | Change |
|---|---|---|---|
| Bulk Strategic | 1022 | 1017 | -5 |
| NEPAS | 1021 | 1018 | -4 |
Analysis:
Diesel in Port Harcourt barely shifted. Bulk Strategic shaved ₦5, while NEPAS declined by just ₦4. Prices remain elevated above ₦1,000/litre, reflecting costly Eastern supply lines.
Calabar Depot Prices (AGO)
- No AGO postings were recorded for Calabar within the review period (per supplied data).
Market Insight & Outlook
- PMS: Lagos lifted petrol slightly, Warri pushed down, Port Harcourt softened, and Calabar edged up. The band stayed within ₦823–₦865/litre.
- AGO: Diesel softened in Lagos (Rainoil) and Warri (Matrix, AYM Shafa), but remains stubbornly above ₦1,000 in Warri and Port Harcourt.
Petrol is becoming more competitive across depots, while diesel remains the heavy burden on transport and industry. Expect PMS to hover in the mid-₦800s and AGO to resist breaking below ₦1,000 without stronger forex relief.
