A.A. Rano, Aiteo, Menj, Pinnacle, NIPCO make list of top 10 Oil Companies with Highest Depot Petrol Prices
By Eyo Nsima
Oil marketing companies with the highest depot prices for Premium Motor Spirit (PMS), commonly known as petrol, continue to influence supply costs across Nigeria’s downstream petroleum market, with depot rates remaining above the ₦1,100 per litre mark at several loading facilities.
An analysis of the latest depot pricing data showed that A.A. Rano topped the list with a depot price of ₦1,121 per litre, followed closely by Aiteo at ₦1,119 per litre. Other marketers maintained prices within a narrow band, reflecting relative stability in the wholesale fuel market despite ongoing competition among suppliers.
The current ranking of the ten highest depot PMS prices is as follows:
Rank Company Depot Price (₦/Litre)
1 A.A. Rano 1,121
2 Aiteo 1,119
3 Menj 1,119
4 Pinnacle Oil & Gas 1,118
5 NIPCO 1,118
6 Rainoil 1,117
7 Matrix Energy 1,117
8 First Royal 1,117
9 Emadeb Energy 1,117
10 Integrated Energy Distribution & Marketing (IEDM) 1,116
The price spread between the highest and tenth-ranked depots stood at just ₦5 per litre, underscoring the intense competition among petroleum marketers and the increasing convergence of wholesale petrol prices across major depots.
Industry analysts attributed the price stability to improved domestic supply, particularly from the Dangote Petroleum Refinery, as well as relatively stable international crude oil prices and better product availability.
Market participants say the narrow pricing margin gives independent marketers greater flexibility in sourcing products while helping to moderate retail pump prices across various parts of the country.
Although depot prices remain significantly higher than levels recorded earlier in the year, the current trend suggests that wholesale prices have entered a period of consolidation after months of volatility driven by fluctuations in crude oil prices, foreign exchange movements and supply disruptions.
Energy market observers noted that sustained domestic refining, improved logistics and healthy competition among depot operators will remain critical to keeping wholesale petrol prices relatively stable in the coming weeks, provided there are no major shocks in the international oil market.
