Dangote Refinery Slashes Diesel Prices by N80, Marketers Adjust Rates

• Dangote Petroleum Refinery reduced its diesel gantry price from N1,780 to N1,700 per litre, effective Wednesday, October 7, 2026
• The price cut followed a sharp drop in Nigeria's estimated diesel import-parity costs, which fell by N127.28 per litre in just two days
• Businesses and diesel users may benefit from the reduction, though final pump prices will depend on distribution and supply chain costs

The Dangote Petroleum Refinery has lowered its Automotive Gas Oil (AGO) price by N80 per litre, bringing its diesel gantry rate down from N1,780 to N1,700, a reduction of roughly 4.5%.

The refinery notified customers of the new pricing in a formal notice, with the change coming into effect on Wednesday, October 7, 2026.

The refinery also said credit values for all unloaded gantry volumes affected by the price adjustment would be communicated to customers separately.

Why Dangote cut its diesel price

The price reduction reflects softer conditions in both local and international energy markets.

Data from the Major Energies Marketers Association of Nigeria (MEMAN) showed that Nigeria's estimated spot landing cost for diesel dropped by N127.28 per litre in two days, falling from N1,823.68 per litre on September 30 to N1,696.40 per litre on October 2.

MEMAN's Energy Bulletin also showed the seven-day average AGO import-parity cost declined from N1,871.34 per litre to N1,823.19 per litre over the same period.

Global crude oil prices have also weakened. As of 6:10 p.m. WAT on Tuesday, October 6, Brent crude was trading at $98.34 per barrel, down $1.98 or 1.97%, while West Texas Intermediate stood at $87.90 per barrel, a decline of $1.53 or 1.71%.

What the price cut means for consumers

At N1,700 per litre, Dangote's wholesale diesel price now sits close to MEMAN's estimated import-parity cost of N1,696.40 per litre, narrowing the gap between refinery pricing and import economics.

The adjustment could offer some breathing room for businesses, transport operators, and industries that depend heavily on diesel to power generators and equipment.

However, what consumers ultimately pay at the point of sale will still be shaped by transportation, storage, and distribution costs along the supply chain.

Marketers may also need to review their own pump prices as the lower refinery rate takes hold, particularly if competing suppliers follow suit and adjust their rates accordingly.

The latest cut is another in a series of price movements by Dangote Refinery as it responds to volatility in international crude markets.

Diesel price rises by 86.40%

Earlier, Legit.ng reported that the National Bureau of Statistics (NBS) disclosed that the average retail price of Automotive Gas Oil (AGO), commonly known as diesel, increased by 86.40% year-on-year to N3,277.47 per litre.

According to the latest diesel price watch report released by the statistics agency, the figure rose from N1,758.26 per litre recorded.

The report also showed that diesel prices increased by 32.44% on a month-on-month basis, rising from N2,474.69 per litre.