Lagos Depots Underprice Dangote Refinery's Diesel Rates

Depot owners in Lagos have cut diesel prices below Dangote Refinery's new gantry rate of N1,840 per litre, which was announced on October 28, 2026. This price increase of N40, or approximately 2.2%, was implemented by the refinery, which directed customers to return existing Authority to Collect (ATC) documents for repricing.

Following this, depots such as Duport, Ibachem, and Ibeto priced diesel at N1,825 per litre, while African Terminal and Integrated listed it at N1,830 per litre, and Menj quoted N1,835 per litre. The price adjustments indicate a competitive landscape among suppliers, with rates being N5 to N15 per litre lower than the refinery's revised price.

The final transaction prices may vary based on volumes and commercial terms. The adjustments come amid rising international crude oil prices, which have raised concerns about restocking costs in the downstream market.