Marketers Release New Petrol Price Nationwide

Fresh data from Nigeria’s downstream petroleum market has revealed the top 10 depots with the lowest Premium Motor Spirit (PMS), also known as petrol, prices in April, even as a nationwide price adjustment pushed rates significantly higher toward the end of the month.

Data from Petroleumprice.ng shows that Lagos-based depots remained the cheapest sources of petrol supply across the country, maintaining the national price floor for most of April, while depots in Warri, Port Harcourt, and Calabar traded at higher but relatively stable premiums.

However, by the final days of April, a coordinated market-wide increase triggered sharp price jumps across all major regions, forcing depot prices to rise by as much as ₦131 per litre between the lowest and highest recorded rates.

Top 10 cheapest petrol depots in April

Based on the lowest recorded PMS prices and consistency within those price bands, these depots emerged as the cheapest across Nigeria:

Aiteo — ₦1204
Ascon — ₦1204
Bono — ₦1204
Nipco — ₦1204
Liquid Bulk — ₦1215
Masters — ₦1217
Matrix — ₦1220
Danmarna — ₦1220
Rain Oil — ₦1220
Wabeco — ₦1227

These depots consistently offered the most competitive petrol prices in their respective regions and shaped the overall market benchmark for April.

Lagos maintains position as national price benchmark

Lagos remained the most competitive PMS market in Nigeria, with Aiteo, Ascon, Bono, and Nipco repeatedly trading at the ₦1204 price floor.

Between April 8 and April 24, the city recorded the tightest pricing structure nationwide, with most depots operating within a narrow ₦1204 to ₦1210 range.

For example, Aiteo moved steadily from ₦1211 to ₦1204, while Nipco followed a similar path from ₦1213 to ₦1204. Bono and Ascon also aligned closely within the same band.

This strong convergence reflected intense competition, steady product availability, and efficient supply chain operations, reinforcing Lagos as Nigeria’s main petrol price discovery hub.

Between ₦1290 and ₦1300, while Techno Oil reached ₦1295, signalling a major market reset. Warri records the highest volatility Warri operated within a higher and more volatile pricing structure compared to Lagos.

The cheapest depots in the region were Matrix, Danmarna, and Rain Oil, all trading at ₦1220. Prices generally ranged between ₦1220 and ₦1235 during the stable trading period. Matrix gradually dropped from ₦1235 to ₦1220, while Danmarna and Rain Oil followed similar pricing patterns. Unlike Lagos, however, Warri showed wider price dispersion and weaker convergence, suggesting lower competitive pressure.

The biggest shift came at month-end, when Matrix surged to ₦1335, the highest PMS price recorded nationally, while Nepal reached ₦1330. This positioned Warri as the most reactive petrol market in April.

Port Harcourt, Calabar stay within mid-to-upper range

Port Harcourt maintained a balanced pricing structure, sitting between Lagos’ aggressive competition and Warri’s volatility.

Liquid Bulk recorded the region’s lowest price at ₦1215, while Masters traded consistently between ₦1217 and ₦1230. Prices remained largely stable throughout most of the month before rising sharply to between ₦1300 and ₦1330 in the final week.

Calabar, on the other hand, posted the highest minimum price nationwide. Wabeco set the floor at ₦1227, while most depots clustered tightly between ₦1227 and ₦1234, reflecting limited competition and supply constraints. By month-end, prices rose to between ₦1300 and ₦1320 across the region.

Nationwide price surge changes market outlook

April 8 to 24, Nigeria’s downstream market showed strong price stability: Lagos: ₦1204–₦1215
Warri: ₦1220–₦1235
Port Harcourt: ₦1215–₦1230
Calabar: ₦1227–₦1230

But between April 26 and 30, a nationwide repricing occurred:
Lagos: up to ₦1275–₦1281
Warri: up to ₦1325–₦1335 Port Harcourt: up to ₦1300–₦1330
Calabar: up to ₦1300–₦1320

This pushed the national price spread to ₦131 per litre, from the lowest recorded ₦1204 in Lagos to the peak ₦1335 in Warri.

The April pricing pattern confirms a clear two-tier market structure, with Lagos serving as the national pricing benchmark, while Warri, Port Harcourt, and Calabar adjusted upward in response to broader market forces.