Dangote refinery cuts diesel price by #200 per litre amid fresh import shipments
Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price of Automotive Gas Oil (diesel) by N200 per litre, lowering the price from N1,800 to N1,600.
The adjustment, which took effect on Wednesday, was confirmed by Platts, a global provider of commodity and energy price benchmarks, and also by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN).
Joseph Obele, PETROAN’s national public relations officer, said the reduction was implemented on May 26 and is widely viewed as a response to increasing market competition in Nigeria’s downstream petroleum sector.
According to Obele, the price cut coincides with the arrival of newly imported diesel shipments by fuel marketers following the issuance of import licences by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
“Dangote Refinery recently took legal action after NMDPRA granted five import licences to marketers for the importation of petroleum products,” he said.
“Over the weekend, several vessels reportedly arrived, and the refinery reduced the price of AGO, commonly known as diesel, by N200, from N1,800 to N1,600.”
The development comes amid ongoing legal and regulatory tensions over fuel import licences issued to marketers and the Nigerian National Petroleum Company (NNPC).
The price reduction also aligns with recent movements in the global oil market, where Brent crude fell to about $95.05 per barrel on Wednesday, down from $98.04 the previous day.
Global oil prices have remained volatile in recent months, driven largely by geopolitical tensions in the Middle East, including disruptions affecting key supply routes such as the Strait of Hormuz.
A temporary ceasefire earlier contributed to a sharp drop in crude prices, although uncertainty returned after developments in the region shifted again.
Despite broader instability, market analysts say increased competition in Nigeria’s downstream sector may continue to influence local fuel pricing in the coming months.