Petroleum depot prices across Nigeria trended downward this week, tracking a volatile international crude market and cautious local purchasing. As Brent crude softened to just below $65 per barrel, downstream players responded with strategic price realignments across major supply corridors. From Lagos to Calabar, petrol, diesel, and aviation fuel prices declined, while LPG remained largely stable.
Dangote Depots Reflect Broader Market Cool-Down
Nigeria’s largest refining hub experienced marked price reductions:
- PMS: fell from ₦880 to ₦867
- AGO: dropped from ₦1,018 to ₦1,000
- LPG: held steady at ₦812
- ATK: eased from ₦1,025 to ₦1,000
Analysts noted that the uniform downturn suggests strategic volume clearance, potentially in response to global oversupply signals.
Dockyard Axis Records Controlled Corrections
- PMS: Aiteo declined from ₦880 to ₦862; Nipco from ₦890 to ₦870
- AGO: Aiteo fell from ₦1,015 to ₦1,000; Nipco maintained ₦1,015
- LPG: Nipco and 11PLC remained flat at ₦850
LPG resilience in this axis may reflect stable offtake from hospitality and bulk residential markets.
Coconut Axis Prices Slide as Activity Slows
- PMS: Sahara and Bono both dropped from above ₦880 to ₦868
- AGO: Ibeto slid from ₦1,009 to ₦995; Africa Terminal from ₦1,010 to ₦997
- LPG: Techno Gas saw a modest increase from ₦845 to ₦850
- ATK: Sahara posted a mild decline from ₦1,054 to ₦1,050
The Coconut corridor remains one of the most reactive markets to midstream price shifts.
Satellite Axis Depots Follow Downward Trend
- PMS: AA Rano reduced from ₦880 to ₦863; Menj also dipped to ₦865
- AGO: Mao and Menj closed the week at ₦998 from ₦1,010+
- ATK: Rainoil’s aviation fuel eased from ₦1,050 to ₦1,045
These trends suggest balanced supply against moderated demand in the satellite district.
Port Harcourt Sees Gradual Softening
- PMS: Masters, SIGMUND and EVER all shed over ₦30, ending the week between ₦883 and ₦886
- AGO: Bulk Strategic fell from ₦1,026 to ₦1,015
- LPG: Stockgap declined from ₦860 to ₦840
Local traders cite logistical delays and weak inland demand as contributing factors.
Delta Axis Registers Uniform Decreases
- PMS: Pinnacle, Matrix and Parker all dropped from above ₦900 to ₦880
- AGO: Rainoil Delta, Pinnacle Warri, Taurus, and Nipco Warri each fell between ₦5 and ₦10
- LPG: Matrix Warri decreased slightly from ₦860 to ₦850
- ATK: Matrix Warri held firm at ₦1,050
The Warri zone reflected cautious optimism, with steady ATK values suggesting steady aviation movement.
Calabar Axis Prices Dip Sharply
- PMS: Mainland, Alkanes, and Soroman all posted significant drops, with prices falling to ₦885, ₦875, and ₦874 respectively
- AGO: Fynefield saw a notable cut from ₦1,030 to ₦1,018
Calabar remains highly price-sensitive, with week-on-week volatility largely tied to regional barge activity.
From Lagos to the coastal South, Nigeria’s depot prices moved in unison with global crude signals and local market resistance. While LPG has largely held its ground, PMS and AGO saw consistent declines. If global crude prices remain subdued, a broader correction in depot-level pricing could deepen in the coming week.
