Top 10 cheapest petrol depots as competition intensifies across Nigeria
By Eyo Nsima
Competition among petroleum marketers intensified on Friday as several depots reduced the prices of Premium Motor Spirit (PMS), commonly known as petrol, with the cheapest products selling at about ₦1,166 per litre in Lagos.
The mid-day price report for August 14, 2026, showed that Dangote Refinery had the lowest PMS price among the major Lagos depots monitored, at ₦1,166 per litre, followed by MRS at ₦1,167 and 11 PLC at ₦1,170.
NIPCO sold at ₦1,170, while Integrated was at ₦1,179. African Terminal, Ardo¬va, Bono, Pinnacle and Pivot each offered PMS at ₦1,180.
Top 10 cheapest PMS depots
Rank Depot Location PMS Price/Litre
1 Dangote Lagos ₦1,166
2 MRS Lagos ₦1,167
3 11 PLC Lagos ₦1,170
4 NIPCO Lagos ₦1,170
5 Integrated Lagos ₦1,179
6 African Terminal Lagos ₦1,180
7 Ardova Lagos ₦1,180
8 Bono Lagos ₦1,180
9 Pinnacle Lagos ₦1,180
10 Pivot Lagos ₦1,180
The report also showed significant price movements in other locations.
In Calabar, Fynefield, Hong Petroleum and Soroman reduced PMS prices by ₦18 each to ₦1,180 per litre. Northwest dropped its price by ₦21 to ₦1,183, while Sobaz reduced its price by ₦16 to ₦1,183.
In Port Harcourt, Matrix cut its PMS price by ₦7 to ₦1,205, while Bulk Strategic, Liquid Bulk and Sigmund reduced their prices by ₦8 each to ₦1,197.
The report indicates continued competition among depot operators and marketers as suppliers adjust prices in response to crude oil prices, product availability, logistics and market demand.
For Automotive Gas Oil (AGO), commonly known as diesel, Lagos prices ranged from ₦1,635 at Dangote to ₦1,685 at several depots, while Matrix and Wosbab in Port Harcourt reduced their prices to ₦1,720.
The narrowing price gap among leading Lagos depots could provide marketers with greater flexibility to compete for retail customers, while consumers may benefit from further reductions if supply costs continue to ease.
