Oil marketers have adjusted petrol loading prices at selected depots across Nigeria, with the steepest increases recorded in Port Harcourt and Warri, according to data from Petroleumprice.ng. The adjustments come as crude oil prices rise amid renewed tensions between the United States and Iran.
Matrix Depot Leads Price Surge in Port Harcourt
Matrix Depot in Port Harcourt raised its Premium Motor Spirit (PMS) ex-depot price by N50, moving from N1,100 to N1,150 per litre. This represents the largest single adjustment across all monitored depots. The new price places Matrix Port Harcourt N75 above the N1,075 per litre benchmark that most Lagos depots currently hold, indicating stronger supply-cost pressures in the South-South region.
Warri Depots Also See Increases
Depots in Warri revised prices upward, though by smaller margins than Port Harcourt. Matrix Warri added N40 to its loading price, reaching N1,125 per litre, while Optima moved up by N20 to N1,100. Nepal and Rain Oil adjusted their prices to N1,098 and N1,100 per litre respectively. Prudent added N13 per litre to settle at N1,098. A.Y.M Shafa and Parker quoted N1,085 and N1,084 per litre without adjustment.
Lagos Depots Remain Stable
Price movement in Lagos was minimal. African Terminal and Aiteo each nudged their ex-depot prices up by N1 per litre to N1,075. Ardova, Dangote, NIPCO, Sahara, Ascon, and Pinnacle all held firm at N1,075 per litre. Heyden quoted the lowest price among Lagos depots at N1,073 per litre.
Regional Price Gap Widens
The divergence between Lagos and other regions highlights varying supply dynamics. While Lagos depots benefit from proximity to refineries and import terminals, depots in Port Harcourt and Warri face higher logistics and supply costs. According to industry sources, the gap could persist if crude oil prices continue to climb.
NNPCL Reduces Retail Prices
Earlier, the Nigerian National Petroleum Company Limited (NNPCL) announced another reduction in the retail price of Premium Motor Spirit (PMS), marking its second price cut within two weeks. Under the revised pricing, motorists in Lagos now buy petrol at N1,170 per litre, down from N1,210, while the price at NNPC filling stations in Abuja fell from N1,260 to N1,210 per litre. The latest adjustment follows recent movements in global crude oil prices.
