Marketers Release New Petrol, Diesel Prices To Reflect Global Changes
- Depot prices for petrol and diesel fell across Lagos, Warri, and Port Harcourt locations in the first week of
- Diesel prices recorded the biggest declines in Lagos, with reductions of up to N11 per litre at Duport and Sahara
- Warri and Port Harcourt saw mixed movements, with mostly stable petrol prices by marketers
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Owners of depots across Nigeria made various, mostly downward, price adjustments for petrol and diesel loading in the week of June 1 to June 5, 2026, while competition in the downstream sector of Nigeria intensified.
From the weekly review of prices by depot owners, a decline was observed in Lagos, Warri, and Port Harcourt, while PMS (petrol) and AGO (diesel) prices remained stable or moved marginally.
Source: UGC
Petrol prices at Lagos depots
At the Lagos depot, the PMS price was slightly adjusted downward for several depot owners:
Pinnacle cut PMS price from N1,253 to N1,251, whereas A.A. Rano adjusted from N1,252 to N1,249 per litre;
Aipec, African Terminal and Integrated cut PMS from N1,251 to N1,248 per litre respectively;
Bono and NIPCO moved from N1,252 to N1,248, respectively.
Also, for diesel, data was obtained from Petroleumprice.ng showed that AGO price in Lagos was slightly adjusted downward in most depots:
NIPCO cut its diesel price from N1,705 to N1,700 per litre, whereas Duport and Sahara cut prices from N1,706 to N1,695 per litre, respectively.
African Terminal, Bono and MENJ reduced prices from N1,705 to N1,695 per litre, respectively.
Ibeto reduced AGO prices from N1,703 to N1,695 per litre, while Aipec also adjusted prices from N1,703 to N1,697 per litre
Source: UGC
Warri petrol price was mostly steady
The price of PMS in the Warri depot remained relatively stable for most suppliers during the week under review.
Matrix, one of the depots, maintained PMS at N1,265 per litre throughout the week.
Parker adjusted from N1,265 to N1,264 per litre, while Nepal moved from N1,265 to N1,263 per litre.
The price of diesel in Warri, Nigeria's key diesel-supplying depot, decreased by N5 per litre. Oil Rain adjusted its diesel prices from N1,710 to N1,705 per litre.
In the week that elapsed, June 5, Port Harcourt witnessed some of the most noticeable adjustments of PMS price, Bulk Strategic and Liquid Bulk cut prices from N1,284 to N1,275 and N1,285 to N1,275 per litre respectively.
The price of AGO in Port Harcourt depot decreased slightly, Sigmund price moving from N1,720 to N1,718 per litre.
The changes in petrol prices followed a drop in crude oil prices during the week to $90.54 a barrel.
Petrol price rises by 23.69% in April
Earlier, Legit.ng reported that the average retail price paid by consumers for Premium Motor Spirit (Petrol) stood at N1,532.93 in April 2026, representing a 23.69% increase from N1,239.33 in April 2025.
The figure also reflects a sharp month-on-month increase of 18.97% from N1,288.54 recorded in March 2026.
On state-level analysis, Yobe State recorded the highest average retail price for petrol at N1,599.05, followed closely by Edo State (N1,595.74) and Bauchi State (N1,589.07).
Source: Legit.ng
