By Udeme Akpan, Energy Editor
Competition in Nigeria’s downstream petroleum sector continued to reshape pricing dynamics on Thursday as major fuel depots largely maintained stable petrol loading prices while diesel prices increased across several locations, reflecting divergent market fundamentals for the country’s two most consumed petroleum products.
The latest mid-day depot price report indicated that intense competition among marketers and the Dangote Petroleum Refinery has kept Premium Motor Spirit (PMS), popularly called petrol, prices relatively stable despite pockets of marginal increases, while Automotive Gas Oil (AGO), or diesel, recorded notable price hikes in Lagos, Port Harcourt and Warri.
In Lagos, which remains Nigeria’s largest petroleum trading hub, Dangote Petroleum Refinery retained its ex-depot petrol price at ₦1,075 per litre, matching prices offered by Ardova, Nipco and Sahara, underscoring the fierce competition among suppliers.
African Terminal and Aiteo, however, raised their petrol loading prices marginally to ₦1,075 per litre from ₦1,074 per litre, limiting room for aggressive price undercutting while maintaining competitiveness in the market.
