Private Depot Operators Hold Petrol Prices Steadily, Cooking Gas Change Amid Crude Oil Volatility
- Petroleum product prices remained stable across Nigeria despite rising global crude prices
- Local fuel prices in Lagos ranged from N1,204 to N1,207 per litre
- Cooking gas prices in Lagos increased to N1,150 per kilogramme, reflecting market adjustments
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Petroleum product prices across depots have remained unchanged as of April 20, 2026, with stability seen in major distribution hubs despite expectations of possible volatility over the weekend.
The development comes as global crude prices experienced upticks, with Brent selling at $94.16 a barrel and WTI at $87.75, showing renewed upward pressure in the international market.
Source: UGC
Domestic fuel prices cool despite high oil prices
Despite the spike, local depot prices have yet to react to the changes in crude prices.
Data released by PetroleumPriceNG revealed a calm trading environment in Lagos, Warri, Port Harcourt, and Calabar depots, where prices ranged within bands, showing a balanced supply situation and reduced short-term pressure on the downstream sector.
According to the report, petrol prices in Lagos hovered around N1,204 to N1,207 per litre across major depots.
Dangote Refinery sold its PMS at N1,204, Rainoil at N1,206, Pinnacle at N1,204, NIPCO at N1,206, Aiteo at N1,205, and Bono at N1,206 per litre, respectively.
Fuel depot prices across Nigeria
Experts say this indicates minimal movement throughout the day.
Other depots such as Gulf Treasure, Ascon, Quest, and A.A. Rano sold petrol at N1,206 and N1,207 per litre, respectively.
Similarly, diesel prices in Lagos showed the same steady trajectory, largely selling between N1,751 and N1,775 per litre.
Dangote sold diesel at N1,751, Nipco at N1,755, Aiteo at N1,759, Duport at N1,760, Menj at N1,765, Gulf Treasure at N1,765, Ibachem at N1,760, and Swift at N1,775, showing a stable pricing structure with minimal adjustments.
Petrol prices remained stable in Warri, between N1,228 and N1,230 per litre.
Notable operators such as Danmarna priced its PMS at N1,228, Pinnacle at N1,228, and Rainoil at N1, 230.
Diesel prices remain steady
Diesel prices were also steady, with Danmarna selling at N1,820, Nipco at N1,825, and First Fortune at N1,824, with Prudent reviewing its prices at N1,800 and Rainoil selling at N1,800 per litre, respectively.
Data shows that Port Harcourt depots priced their petrol at N1,225 to N1,230 per litre, with Masters selling at N1,225 following a slight review, while Sigmund sold its PMS at N1,230 and others sold at similar prices.
Diesel prices in the area remained firm at N1,860, with Matrix and Sigmund selling at the same rate.
Calabar depot prices remained stable at N1,230 per litre, as Sobaz, Soroman, and Northwest depots, reinforcing the larger market stability.
Cooking gas prices spike
Findings show that cooking gas prices in Lagos depots recorded an upward adjustment, rising to N1,150 per kilogramme.
The spike shows a N100 jump from the previous average of N1,050 per kilogramme recorded the week before, indicating a fresh price movement in the LPG segment.
In all, the lack of sharp price increases across depots shows that supply remains sufficient in the short term, as global oil prices spike upward.
Analysts believe that the steady pricing trend shows that marketers are maintaining positions without reacting strongly to external pressures.
Source: Getty Images
They note that while the spike in crude oil prices could introduce upward pressure in the coming days, the current depot rates show a halt in volatility, with prices holding firm across major supply hubs.
Depot owners keep fuel prices steady
Legit.ng earlier reported that Nigerian motorists received a welcome breather on Monday, April 13, 2026, as depot owners largely kept Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) prices steady despite a sharp rally in global crude oil markets.
While Brent crude climbed to $100.4 per barrel (up 5.45%) and West Texas Intermediate hit $101.6 (up 5.22%) by mid-afternoon, downstream operators adopted a wait-and-see approach, heavily influenced by pricing signals from the Dangote Refinery.
According to mid-day reports from Petroleumprice.ng covering major hubs in Lagos, Port Harcourt, Warri, and Calabar, most marketers held last week’s levels.
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
