The Dangote Petroleum Refinery has reduced the price of Automotive Gas Oil (AGO), commonly known as diesel, by N80 per litre following a decline in international crude oil prices and diesel import costs.
The refinery reduced its gantry price from N1,780 to N1,700 per litre, with the new price taking effect on Wednesday, Oct. 7, 2026, according to a notice issued to customers. The reduction represents about 4.5 per cent and is the second cut in the refinery’s diesel price within a month.
The latest adjustment comes as the cost of importing diesel into Nigeria declines. Data from the Major Energies Marketers Association of Nigeria (MEMAN) showed that the estimated spot landing cost of diesel fell by N127.28 per litre, from N1,823.68 on Sept. 30 to N1,696.40 on Oct. 2.
MEMAN’s seven-day average AGO import-parity cost also declined from N1,871.34 to N1,823.19 per litre over the same period.
The reduction in local diesel prices coincided with weaker international crude prices. Brent crude fell to about $98 per barrel on Tuesday before recovering to around $100, while West Texas Intermediate crude also traded below $90.
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The latest Dangote price is slightly above MEMAN’s estimated spot import-parity cost of N1,696.40 per litre recorded on Oct. 2.
The refinery said corresponding credit values for unloaded gantry volumes affected by the price adjustment would be communicated separately to customers.
The latest reduction could put downward pressure on depot prices and lower operating costs for businesses and other bulk users that rely on diesel for power generation and other activities.
Dangote Refinery had earlier reduced its diesel price from N1,850 to N1,780 per litre, effective Oct. 1, following a decline in market costs.
