Petrol depot prices increased across most major markets in Nigeria between Monday, August 17 and Friday, August 21, 2026, driven by rising international crude oil prices and supply concerns linked to the Strait of Hormuz. According to Petroleumprice.ng, PMS prices rose across most depots in Lagos, Port Harcourt and Calabar, while Warri recorded mixed movements.
Market-Wide Increases in Lagos, Port Harcourt and Calabar
In Lagos, all tracked depots recorded increases. MRS Tincan posted the biggest rise of N25 per litre, moving from N1,167 to N1,192, while Pinnacle rose by N23 to N1,190. Pivot moved from N1,180 to N1,200, while Integrated and African Terminal increased to N1,198.
Port Harcourt also recorded strong increases. Liquid Bulk and Sigmund rose by N28 each to N1,218 per litre, while Bulk Strategic increased by N25 to N1,215.
Calabar recorded the biggest gains, led by Mainland, which rose by N33 from N1,180 to N1,213. Soroman and Sobaz increased by N32 each, while Northwest gained N28. Fynefield was unchanged at N1,220, while Matrix rose by N15.
Warri Records Mixed Movements
Warri was mixed, with Matrix and Nepal rising by N15 each to N1,215, while Rain Oil and Parker fell by N5 to N1,215 and N1,195 respectively.
International crude prices traded close to $95 per barrel amid the ongoing Hormuz crisis, raising concerns about supply and replacement costs. The market is also adjusting to a fresh price increase by Dangote Petroleum Refinery, which raised its PMS gantry price by N20 from N1,165 to N1,185 per litre.
Dangote Refinery Adjusts Prices
The refinery also increased its AGO price by N100, from N1,570 to N1,670 per litre. This move adds pressure on local fuel prices, as marketers may remain cautious about replacement costs.
With crude prices nearing $95 per barrel and supply concerns around the Strait of Hormuz unresolved, marketers may remain cautious about replacement costs, increasing the possibility of further adjustments in local depot prices.
