Diesel Prices Exceed ₦2,000 in Nigeria Amid Market Fluctuations

The price of Automotive Gas Oil (AGO), commonly known as diesel, has exceeded ₦2,000 per litre in Nigeria, particularly in Abuja, where it ranged from ₦2,000 to ₦2,020 per litre as of Friday, September 4, 2026. This marks an increase of ₦220 to ₦300 from the previous price range of ₦1,700 to ₦1,800.

The surge in diesel prices is attributed to rising depot prices, with operators like Ranoil Delta and Nigerian Independent Petroleum Company (NIPCO) adjusting their prices to around ₦1,900 per litre. Additionally, Petroleum Refinery raised its AGO gantry price by ₦100 to ₦1,850.

Despite these increases, some depots, including Obat and Duport, reduced their prices to ₦1,790 per litre, which is below Dangote Refinery’s price. The fluctuations in diesel prices reflect varying transportation costs, supply conditions, and local demand.

The increase in diesel prices poses challenges for businesses that rely on diesel for power, including manufacturers and logistics operators.