Oil marketers don begin cut pump price of Premium Motor Spirit, wey plenty pipo know as petrol. MRS reduce im own price in Lagos and environ by N20 per litre to N1,350 from N1,370.
Checks by Vanguard show say some independent oil marketers also reduce dia retail price to N1,360 from more than N1,380 per litre. The reduction come as depot prices continue to soften, with PMS falling to as low as N1,303 per litre in Port Harcourt, according to latest Daily Depot Price Intelligence Report for Friday, September 25, 2026.
The downward movement for domestic market also coincide with sharp decline for international crude oil prices. Brent crude fall by $2.28, or 2.14 per cent, to $104.30 per barrel from $106.58. West Texas Intermediate, WTI, decline by $1.79, or 1.89 per cent, to $92.82 from $94.61 per barrel.
The decline reach refined products too. Gasoline fall 4.31 per cent to $3.411, while natural gas drop 3.46 per cent to $3.183.
Latest depot data show say Bulk Strategic, Masters, Sigmund and T.S.L depots in Port Harcourt dey sell PMS at N1,303 per litre, the lowest price recorded across markets monitored. For Lagos, A.A Rano, AIPEC, Bovas, Dangote, Emadeb, Sahara and Wosbab depots list at N1,325 per litre.
Petrol prices average N1,326 per litre in Lagos, N1,318 in Calabar, N1,315 in Warri and N1,303 in Port Harcourt. At N1,350 per litre, MRS new Lagos pump price be N25 above N1,325 per litre depot price recorded by monitored Lagos suppliers. The gap between MRS Lagos retail price and lowest depot price in Port Harcourt na N47 per litre.
However, the depot report also show wide regional variations in Automotive Gas Oil, AGO, or diesel. Diesel prices range from N1,790 per litre in Lagos to N1,900 per litre in Port Harcourt. Also, Duport, Ibachem, Integrated and MENJ depots in Lagos record lowest price of N1,790 per litre, while Bulk Strategic in Port Harcourt list at N1,890 per litre.
The regional average price of diesel stand at N1,895 per litre in Port Harcourt, N1,888 in Warri and N1,823 in Calabar. Meanwhile, the report put average price of Liquefied Petroleum Gas, LPG, at N1,125 per kilogramme in Port Harcourt and N1,020 in Warri.
