Petrol Depot Prices Range From N1,350 to N1,390 Across Lagos, Warri, Port Harcourt, Calabar
By Aboki Forex —
Petrol depot prices ranged between N1,350 and N1,390 per litre across Lagos, Warri, Port Harcourt and Calabar, according to a market report covering listed depots. Bulk Strategic posted the highest price of N1,390 per litre among all depots captured in the report.
Data from Petroleumprice.ng showed that on Monday, September 14, prices differed from depot to depot even within the same market, with a spread of N40 per litre between the cheapest and the most expensive listed rate.
Lagos depots stay close to N1,350
In Lagos, Bulk Strategic recorded the highest Premium Motor Spirit (PMS) price at N1,390 per litre. Northwest quoted N1,355 per litre, while several other depots held prices around N1,350 per litre.
Liquid Bulk, Masters, Sigmund, Stockgap, T.S.L, Mainland and Soroman all listed PMS at N1,350 per litre. MRS sold at N1,357 per litre, while Dangote, Pinnacle, Sahara and Techno Oil quoted N1,352 per litre.
A.A Rano listed PMS at N1,351 per litre. African Terminal, Aiteo, Ascon, Bono and Integrated quoted N1,350 per litre. Most Lagos depots sat within a narrow band, with the gap between them running to just a few naira.
Warri, Port Harcourt and Calabar trend higher
Depots in Warri, Port Harcourt and Calabar generally quoted above the N1,350 level seen at many Lagos depots. Keonamex and Matrix posted N1,360 per litre, the highest among the depots listed for those locations.
Nepal, Optima and Prudent recorded N1,355 per litre, while Parker quoted N1,350 per litre.
The report put the difference between the lowest listed PMS price of N1,350 and the highest of N1,390 at N40 per litre.
Why depot prices matter
Depot prices sit in the middle of the petrol supply chain. They shape the cost at which marketers buy product before moving it to filling stations for sale to motorists.
That depot price is not the same as the final pump price. Transportation, logistics, operating expenses and other charges all feed into what drivers pay at the station.
Petrol prices across Nigeria climbed sharply after Dangote Petroleum Refinery raised its wholesale gantry price from N1,265 to N1,350 per litre, pushing pump prices to new highs in Lagos, Abuja and Ogun State. The N85 increase, a 6.7% rise, took the refinery's wholesale price above Nigeria's petrol landing cost of about N1,311 per litre.
In Lagos, the Nigerian National Petroleum Company Limited has set its pump price at N1,380 per litre, up from N1,299.