The market for AGO appears stable, with most depots listing prices around ₦1,075 to ₦1,080 per litre. Menj, Obat Oil, Ramaniya, Aipec, and Ibachem are maintaining prices at ₦1,075, while Dangote stands slightly higher at ₦1,084. The more affordable options are likely to see demand surges, but with steady supply from larger depots like African Terminal, Aiteo, and Sahara at ₦1,080, we expect prices to remain consistent with slight upticks, potentially moving within the ₦1,080–₦1,085 range by the end of the week.
PMS (Petrol) Prices:
Petrol pricing shows a wider spread across depots. Pinnacle is offering one of the lower prices at ₦1,068 per litre, with Dangote close behind at ₦1,064. Meanwhile, Bovas leads the higher end at ₦1,100. Most depots, such as Sahara, Nipco, and Fatgbem, are pricing around ₦1,075–₦1,080. Given the slight rise in prices at some key depots and considering supply factors, the expected range for PMS could shift upward, with forecasts pointing to an average of ₦1,070–₦1,085 for the period of October 21st to 28th.
It is likely that prices will reflect marginal increases as fuel demand surges towards the end of the month. This particularly if supply tightens at lower-priced depots. Keep an eye on Bovas and Gulf Treasure, whose higher pricing may set the tone for broader market adjustments.
