Diesel prices, known officially as Automotive Gas Oil have recorded significant increases in Lagos, Port Harcourt and Warri.

This rise contrasts with relatively stable prices for Premium Motor Spirit, commonly called petrol, despite fears that renewed hostilities in the Middle East war between the United States and Iran could pile pressure on pump prices, as had happened previously.

Vanguard reported that in Lagos, African Terminal increased its diesel loading price by N50 per litre to N1,500 per litre.

Gulftreasure, Ibachem, Ibeto and T.Time also sold diesel at N1,500 per litre in Lagos.

In Port Harcourt, Matrix raised its diesel price by N50 per litre to N1,550 per litre, making it one of the highest-priced major depots for the product.

Diesel prices in Warri were also higher, with A.Y.M Shafa increasing its price to N1,545 per litre from N1,500 per litre.

Prudent Energy in Warri maintained its diesel price at N1,550 per litre.

In Calabar, Fynfield quoted diesel at N1,480 per litre, although no comparable previous price was available for the depot.

In the petrol market, the latest mid-day depot price report indicated that intense competition among marketers, alongside the influence of the Dangote Petroleum Refinery, has kept product prices relatively stable despite pockets of marginal increases.

In Lagos, which remains Nigeria’s largest petroleum trading hub, the Dangote Petroleum Refinery retained its ex-depot petrol price at N1,075 per litre, matching prices offered by Ardova, Nipco and Sahara, underscoring the fierce competition among suppliers.

African Terminal and Aiteo, however, raised their petrol loading prices marginally to N1,075 per litre from N1,074 per litre, limiting room for aggressive price undercutting while still maintaining competitiveness in the market.

In Port Harcourt, Matrix raised its petrol price sharply by N50 per litre to N1,150 per litre from N1,100 per litre, making it one of the highest-priced major depots for the product.

Matrix also raised its PMS price by N40 to N1,125 per litre.

Nepal increased its petrol price to N1,098 per litre from N1,080 per litre.

Optima moved its petrol price to N1,100 per litre.

Prudent and Rain Oil also implemented upward adjustments to their petrol prices.

Soroman maintained a petrol quotation of N1,100 per litre.

The pricing trends highlight the increasingly regional nature of Nigeria’s downstream market, with logistics costs, depot inventories, transportation expenses and local demand conditions influencing prices outside Lagos.