Nigerian motorists received a welcome breather 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.
This cautious stance reflects the refinery’s dominant role in domestic PMS supply and its decision not to pass on immediate cost increases to the market.
In Lagos, Africa’s busiest fuel hub, PMS saw marginal relief in select depots. Dangote adjusted its ex-depot PMS price downward from ₦1,210 to ₦1,208 per litre, while AGO eased from ₦1,758 to ₦1,751 per litre. Rainoil trimmed PMS slightly to ₦1,212, and Ascon dropped to ₦1,210. A.A Rano held firm at ₦1,210.
Diesel (AGO) movements were mixed. Ibeto, Integrated, and Swift edged upward to ₦1,845 from ₦1,840, while Nipco remained unchanged at ₦1,850. Other players like Matrix and Sahara issued no fresh updates.
Port Harcourt recorded modest shifts. Bulk Strategic raised PMS slightly to ₦1,225, while Sigmund lowered it to ₦1,218. AGO showed wider volatility: Bulk Strategic dropped to ₦1,920 from ₦1,938, but Sigmund hiked sharply to ₦2,000 from ₦1,950.
Calabar saw minor PMS increases at Jenny and Wabeco to ₦1,228, while the others remained unchanged.
In Warri, Matrix, Prudent, and Rainoil maintained PMS at ₦1,235. First Fortune held steady across products, though Nipco pushed AGO to ₦2,000 and Danmarna slashed it notably to ₦1,850.
