Dangote diesel price falls to N1,700 per litre as the refinery cuts its gantry rate by N80 amid lower import costs and crude oil volatility

Dangote Petroleum Refinery has reduced its diesel price by N80 per litre, bringing its Automotive Gas Oil, commonly known as diesel, gantry price down from N1,780 to N1,700.

Also read: Dangote stops petrol sales to fuel importers

The new Dangote diesel price took effect on Wednesday, October 7, 2026, according to a notice issued to customers by the refinery.

The reduction represents a 4.5 per cent decline and comes as diesel import costs fall amid renewed volatility in the international crude oil market.

Brent crude dropped to about $98 per barrel during trading on Tuesday before recovering to around $100, while West Texas Intermediate also fell below $90.

The latest adjustment marks the second diesel price reduction by Dangote Petroleum Refinery within a month and brings its gantry price close to the prevailing import-parity cost.

Data from the Major Energies Marketers Association of Nigeria showed that the estimated spot landing cost of diesel fell by N127.28 per litre within two days.

The cost declined from N1,823.68 per litre on September 30 to N1,696.40 per litre on October 2.

Similarly, MEMAN’s Energy Bulletin showed that the seven-day average AGO import-parity cost dropped from N1,871.34 per litre to N1,823.19 over the same period.

The movement in crude prices has come amid continued uncertainty in the global oil market, with supply concerns linked to the Middle East conflict weighing against efforts by major producers and consuming countries to maintain adequate supplies.

In its notice to customers, Dangote Petroleum Refinery said corresponding credit values on all unloaded gantry volumes affected by the downward price adjustment would be communicated separately.

The refinery’s new N1,700 per litre price is only slightly above MEMAN’s estimated spot import-parity cost of N1,696.40 recorded on October 2.

The reduction could place additional pressure on depot prices and influence diesel pricing across the domestic market.

Businesses and bulk consumers that depend heavily on Automotive Gas Oil for power generation, transportation and daily operations could particularly feel the impact if the lower refinery price translates into cheaper diesel across the market.

Also read: Dangote stops petrol sales to fuel importers

The latest cut therefore offers a welcome development for diesel-dependent businesses, while highlighting how movements in global crude prices and import costs continue to shape petroleum product prices in Nigeria.