Matric, A.Y.M Shafa, Sigmund among top 10 Oil Companies with Nigeria’s Highest Depot Fuel Prices
By Eyo Nsima
Nigeria’s depot fuel market recorded another day of price variations on Friday, July 3, 2026, with several oil marketing companies maintaining significantly higher ex-depot prices for Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (AGO), commonly referred to as diesel.
An analysis of the Daily Depot Price Intelligence Report indicates that diesel continued to command premium prices across major depots, while petrol prices remained relatively stable despite regional differences.
Top 10 Highest Depot Fuel Prices
The ranking of the highest depot prices across the major petroleum products is as follows:
Rank Company Product Price (₦/Litre) Location
1 Matrix AGO 1,520 Warri
2 A.Y.M Shafa AGO 1,458 Warri
3 Sigmund AGO 1,461 Port Harcourt
4 Bulk Strategic AGO 1,468 Warri
5 Duport AGO 1,435 Lagos
6 Ibachem AGO 1,435 Lagos
7 Aradel ATK 1,210 Warri
8 Aiteo PMS 1,075 Port Harcourt
9 Matrix PMS 1,095 Warri
10 Bulk Strategic PMS 1,094 Warri
Matrix Leads Diesel Market
Matrix recorded the country’s highest depot price for diesel at ₦1,520 per litre in Warri, reflecting the sustained strength of industrial fuel demand and logistics costs in the downstream market.
Bulk Strategic followed with ₦1,468 per litre, while Sigmund posted ₦1,461 per litre in Port Harcourt. A.Y.M Shafa quoted ₦1,458 per litre, underscoring the continued premium attached to diesel supplies across key commercial hubs.
In Lagos, Duport and Ibachem both sold diesel at ₦1,435 per litre, placing them among the country’s highest-priced depots.
Petrol Prices Remain Competitive
Unlike diesel, petrol prices showed a narrower spread across depots.
Among the companies quoted, Matrix offered PMS at ₦1,095 per litre, while Bulk Strategic, Liquid Bulk and Sigmund each sold at ₦1,094 per litre. Masters quoted ₦1,091 per litre, and Aiteo posted one of the more competitive prices at ₦1,075 per litre in Port Harcourt.
The report showed that the highest PMS price across regions stood at ₦1,097 per litre, while the lowest was ₦1,075 per litre, highlighting a relatively modest price gap compared with diesel.
Lowest Petrol Prices
Several depots emerged as the most competitive in the petrol market, with A.Y.M Shafa, Matrix, Nepal, Optima, Parker and Prudent all offering PMS at ₦1,090 per litre in Warri.
Masters recorded ₦1,091 per litre in Port Harcourt, while Soroman quoted ₦1,095 per litre in Calabar.
Regional Market Trends
The report also showed varying average product prices across the country’s major petroleum distribution hubs.
Average PMS prices stood at ₦1,078 per litre in Lagos, ₦1,090 in Warri, ₦1,094 in Port Harcourt, and ₦1,096 in Calabar.
For diesel, regional averages ranged from ₦1,449 per litre in Lagos to ₦1,483 per litre in Port Harcourt, indicating stronger pricing in the eastern distribution corridor.
Market Outlook
Industry analysts said depot prices continue to respond to fluctuations in international refined petroleum product costs, foreign exchange movements, transportation expenses, inventory replacement costs and supply logistics.
Although petrol prices have remained relatively stable in recent weeks, diesel continues to trade at elevated levels due to sustained demand from manufacturers, construction firms, haulage operators and power generation companies.
Market watchers expect depot prices to remain sensitive to changes in global crude oil prices, exchange rate movements and domestic supply dynamics in the coming weeks.
