DANGOTE CUTS DIESEL PRICE TO N1,700 PER LITRE

Dangote Petroleum Refinery has reduced its Automotive Gas Oil, commonly known as diesel, gantry price by N80 per litre.

The refinery cut the price from N1,780 to N1,700 per litre, with the new price taking effect on Wednesday, October 7, 2026.

The reduction represents a 4.5 per cent decline and comes amid falling diesel import costs and fluctuations in international crude oil prices.

Brent crude fell to about $98 per barrel during trading on Tuesday before recovering to around $100, while other international crude benchmarks also recorded declines.

Data from the Major Energies Marketers Association of Nigeria showed that the estimated spot landing cost of diesel fell by N127.28 per litre between September 30 and October 2.

The estimated cost dropped from N1,823.68 to N1,696.40 per litre during the period.

The latest adjustment is the second diesel price reduction by Dangote Refinery within a month.

The new N1,700 per litre gantry price is slightly above the estimated import-parity cost recorded on October 2.

The reduction could influence diesel prices across the domestic market, particularly for businesses and bulk consumers that rely on diesel for power generation and other operations.