Dangote Refinery Raises Diesel Price by ₦100 Days After Reduction

Dangote Refinery has increased its gantry price of diesel by ₦100 per litre, reversing part of a recent price reduction and potentially putting further pressure on the cost of the product in the Nigerian market.

A market survey by Daily Post on Saturday showed that the refinery raised its Automotive Gas Oil (AGO), commonly known as diesel, from ₦1,700 to ₦1,800 per litre.

Despite the increase, Dangote Refinery’s price remained below the rates charged by several petroleum depots. Pivot, African Terminal, Integrated and other depot operators were reportedly selling diesel at ₦1,905 per litre at the time of the report.

The difference means the refinery’s new gantry price was ₦105 per litre cheaper than the depot prices cited in the survey.

The latest adjustment came just three days after the refinery reduced its diesel price by ₦80, from ₦1,780 to ₦1,700 per litre, on October 7.

The reversal could put additional pressure on retail prices, particularly in Abuja and surrounding areas, where diesel was reportedly selling between ₦1,960 and ₦1,980 per litre before the latest increase.

However, the extent to which the adjustment will affect pump prices will depend on subsequent pricing decisions by distributors and retailers, as well as transportation and other supply costs.

Diesel is widely used by businesses, manufacturers, transport operators and households that depend on generators for electricity. Further increases could therefore raise operating expenses and contribute to higher costs for goods and services if sustained.

The price movement also comes amid elevated international crude oil prices. Brent crude was trading at about $104 per barrel, while West Texas Intermediate (WTI) stood at approximately $91 per barrel, according to the figures cited in the report.

The latest increase highlights continuing volatility in Nigeria’s diesel market, where prices can change within days as refiners and depot operators adjust their rates.