Dangote Refinery Cuts Diesel Price to N1,700 per Litre

Dangote Petroleum Refinery has announced a reduction in its Automotive Gas Oil (diesel) gantry price by N80, lowering it from N1,780 to N1,700 per litre, effective October 7, 2026. This price cut, representing a 4.5% decline, is attributed to falling diesel import costs and volatility in the international crude oil market, where Brent crude prices dropped to approximately $98 per barrel before recovering to around $100.

The latest reduction marks the second price cut by the refinery within a month and brings its diesel price close to the prevailing import-parity cost. Data from the Major Energies Marketers Association of Nigeria indicated that the estimated spot landing cost of diesel fell by N127.28 per litre from September 30 to October 2.

The refinery's notice to customers stated that corresponding credit values on all unloaded gantry volumes affected by the price adjustment would be communicated separately. The new price may influence diesel pricing across the domestic market, particularly for businesses reliant on diesel for power generation and operations.