This review examines the opening and closing prices of Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), Liquefied Petroleum Gas (LPG), and Aviation Turbine Kerosene (ATK) across key depots in Lagos, Port Harcourt, Calabar, Delta, and other strategic locations. Below are the trends and key insights from the week.
1. Premium Motor Spirit (PMS)
Port Harcourt Depots:
- Lowest Price: Zamson maintained the lowest price of ₦925, with no changes throughout the week.
- Highest Price: Stockgap recorded the highest price of ₦976, showing stability with no variation.
- Notable Movement: Masters Depot reduced its closing price by ₦1 to ₦938.
Calabar Depots:
- All depots, including Fynefield and most depots in Calabar weren’t functional due to an extensive Yuletide celebrations that are still being observed.
- Mainland Depot held the lowest consistent price of ₦950.
Delta Depots:
- Price Drops: A.Y.M Shafa dropped by ₦4 (₦927 to ₦923), and Prudent Oghara decreased by ₦4 (₦925 to ₦921).
- Stable Prices: Rainoil Warri and Matrix Warri both maintained steady prices at ₦925.
Lagos Axes:
- Dockyard Axis: Aiteo dropped from ₦910 to ₦907, while Nipco fell by ₦3, closing at ₦912.
- Coconut Axis: Swift saw a ₦5 decrease to ₦907, and Sahara remained stable at ₦910.
- Satellite Axis: Wosbab and A.A Rano dropped slightly to ₦909 and ₦908, respectively.
2. Automotive Gas Oil (AGO)
Port Harcourt Depots:
- Zamson and Tonimas maintained their prices at ₦1048 and ₦1120, respectively.
- Stockgap saw a slight reduction from ₦1085 to ₦1080.
Delta Depots:
- Price Stability: Rainoil Warri and Prudent Oghara held steady at ₦1050.
- Slight Drop: A.Y.M Shafa reduced by ₦1 to ₦1047.
Lagos Axes:
- Dockyard Axis: Nipco’s prices surged from ₦1050 to ₦1120, reflecting the week’s largest AGO increase.
- Coconut Axis: Ibeto rose slightly by ₦10 to close at ₦1050, while Sahara dropped by ₦10 to close at ₦1045.
- Satellite Axis: Chipet saw a notable increase from ₦1030 to ₦1050, while Menj dropped slightly to ₦1027.
3. Liquefied Petroleum Gas (LPG)
Delta Depots:
- Significant Drop: Both Prudent Oghara and Matrix Warri experienced a steep ₦55 decrease, closing at ₦1130.
Lagos Axes:
- Dockyard Axis: Nipco fell by ₦40 to ₦1070, while Navgas dropped by ₦55 to close at ₦1055.
- Coconut Axis: Techno Gas decreased slightly by ₦5 to close at ₦1075.
- Satellite Axis: Both A.A Rano and Rainoil closed at ₦1065, marking a ₦45 drop from their opening prices.
4. Aviation Turbine Kerosene (ATK)
Delta Depots:
- Matrix Warri remained steady at ₦1250 throughout the week.
Lagos Axes:
- Dockyard Axis: Duport and Africa Terminal both dropped by ₦12 to close at ₦1120.
- Satellite Axis: Rainoil showed the largest drop for ATK, decreasing by ₦80 to close at ₦1100.
Key Insights
- Price Reductions: The week saw notable reductions in LPG and ATK prices, particularly in Satellite and Dockyard axes, indicating adjustments in supply or demand.
- Price Stability: PMS and AGO prices were largely stable in key depots such as Calabar and Port Harcourt.
- Significant Increases: AGO prices at Nipco in Dockyard Axis surged dramatically, reflecting shifts in local demand or supply costs.
This analysis highlights the competitive and fluctuating nature of depot pricing across Nigeria, providing valuable insights for marketers to optimise procurement strategies.
