Dangote Petroleum Refinery has reduced the price of Automotive Gas Oil (AGO), commonly known as diesel, by N80 per litre.
The refinery cut its gantry price from N1,780 to N1,700 per litre, with the new price taking effect on Wednesday, October 7, 2026.
The latest reduction represents a 4.5 per cent decrease and is the refinery’s second diesel price cut within a month.
The price cut comes as diesel import costs fall and global crude oil prices remain volatile.
Data from the Major Energies Marketers Association of Nigeria (MEMAN) showed that the estimated spot landing cost of diesel dropped by N127.28 per litre in two days.
The cost fell from N1,823.68 per litre on September 30 to N1,696.40 per litre on October 2.
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MEMAN’s Energy Bulletin also showed that the seven-day average AGO import-parity cost declined from N1,871.34 to N1,823.19 per litre over the same period.
The latest Dangote refinery price of N1,700 per litre is therefore only slightly above the N1,696.40 per litre spot import-parity cost recorded by MEMAN on October 2.
The reduction also followed movements in the international oil market. Brent crude fell to about $98 per barrel on Tuesday before recovering to around $100, while West Texas Intermediate crude traded below $90.
In a notice to its customers, the Dangote refinery said corresponding credit values for unloaded gantry volumes affected by the price adjustment would be communicated separately.
The lower refinery price could put pressure on diesel depot prices and lead to further reductions across the domestic market.
Businesses and bulk consumers that rely heavily on diesel for power generation, transportation and daily operations are expected to benefit if the lower price is reflected across the supply chain.
