Automotive Gas Oil (AGO), widely known as diesel, has experienced substantial price surges across Lagos, Port Harcourt, and Warri. This movement occurs even as Premium Motor Spirit (PMS), or petrol, maintains relative price stability, defying earlier concerns that geopolitical tensions between the US and Iran might trigger broader fuel inflation.
In Lagos, several terminals including African Terminal, Gulftreasure, Ibachem, Ibeto, and T.Time have adjusted their diesel rates to N1,500 per litre, marking an increase of N50. Meanwhile, Port Harcourt saw Matrix lift its diesel price by N50 to hit N1,550 per litre. Warri recorded similar upward trends, with A.Y.M Shafa reaching N1,545 per litre and Prudent Energy holding steady at N1,550 per litre. In Calabar, Fynfield listed diesel at N1,480 per litre.
Conversely, the petrol market remains largely consistent, supported by intense competition between various marketers and the Dangote Petroleum Refinery. In Lagos, the Dangote refinery held its ex-depot price at N1,075 per litre, mirroring rates from competitors like Ardova, Nipco, and Sahara. Other firms such as African Terminal and Aiteo saw only fractional increases.
However, price volatility remains evident in other regions. In Port Harcourt, Matrix increased petrol costs by N50 to reach N1,150 per litre. These regional discrepancies underscore how factors such as logistics, inventory levels, and local transportation costs shape the current downstream market outside of Nigeria’s primary trading hub in Lagos.
