Dangote Refinery Cuts Diesel Gantry Price by N80 to N1,700 per Litre

The Dangote Petroleum Refinery has cut the gantry price of Automotive Gas Oil, or diesel, by N80 per litre, lowering it from N1,780 to N1,700. The reduction of about 4.5% took effect on Wednesday, October 7, 2026, according to a formal notice to customers.

The refinery said credit values for all unloaded gantry volumes affected by the price adjustment would be communicated to customers separately. The cut comes as local and international energy markets show softer conditions.

What MEMAN data shows

Data from the Major Energies Marketers Association of Nigeria (MEMAN) showed Nigeria's estimated spot landing cost for diesel fell by N127.28 per litre in two days. It dropped 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 prices weaken

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%. West Texas Intermediate stood at $87.90 per barrel, a decline of $1.53 or 1.71%.

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. That narrows the gap between refinery pricing and import economics.

What it means for businesses and marketers

The adjustment could offer some breathing room for businesses, transport operators and industries that depend heavily on diesel to power generators and equipment. But 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 cut is another in a series of price movements by Dangote Refinery as it responds to volatility in international crude markets. Earlier, 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. The report also showed that diesel prices increased by 32.44% on a month-on-month basis, rising from N2,474.69 per litre.

For Nigerian businesses, the lower gantry rate may ease operating costs if marketers pass it through. The final benefit will depend on how quickly pump prices reflect the change and how distribution costs move in the coming days.