Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends

Depot owners have increased the price of Premium Motor Spirit (PMS), commonly known as petrol, by as much as N10 per litre across several petroleum corridors.

A week-on-week analysis of depot prices from May 12 to May 16 shows several adjustments, including from Dangote Petroluem refinery.

However, prices remained stable for Automotive Gas Oil (AGO) and Liquefied Petroleum Gas (LPG) declined in multiple regions, with Aviation Turbine Kerosene (ATK).

Petroleumprice.ng reports that at the Dangote Refinery, PMS rose to N837 per litre from N827, while AGO and LPG slipped to N937 and N865 respectively.

ATK remained unchanged at N975.

The upward adjustment in PMS is attributed to expected tighter supply, while the decline in AGO and LPG may signal stock rotation or competitive pricing strategies.

In the Dockyard axis, NIPCO slightly reduced petrol to N840 per litre, while LPG at Ardova dropped significantly by N25 to N925, indicating weak offtake or pre-positioning ahead of possible market recovery.

Coconut depots saw PMS at MRS increase to N834 from N827, while AGO prices at Ibeto and Ibachem each declined N10 to N935. Duport raised its ATK price marginally to N1035.

Across the Satellite axis, PMS was largely stable, except for a N3 rise at Menj to N840. However, AGO fell sharply by N20 at Mao and N13 at Chipet. LPG prices dropped by N5 to N10, while ATK at Rain Oil dipped N6 to N1030.

In Delta, Matrix, and Shafa kept PMS prices flat at N890 and N860, respectively, while First Fortune slashed its price by N25. AGO prices were mixed, with Pinnacle Warri posting a N5 gain and Matrix dropping N10. ATK remained steady.

Port Harcourt depots recorded minor fluctuations. PMS hovered around N893–N896, while AGO at Bulk Strategic fell N9 to N977.

Calabar reported contrasting trends. Alkanes surged N23 to N890 per litre, while other depots including Fynefield and Mainland, recorded PMS declines. AGO held firm at N995.

Earlier, Legit.ng reported that Dangote released steps for Nigerians looking to become partners with its refinery as petroleum product distributors.

According to the Dangote Group, businesses and individuals must follow a simple four-step process to become official distributors of its petroleum products across Nigeria.

In a statement, the company said the first step is to initiate the process by sending an email to [email protected] to express interest in distributorship.

Dangote Refinery stated that upon successful contact, prospective distributors will proceed to the registration stage, where they will be issued a Dangote Refinery registration PIN.

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Source: Legit.ng