Dangote Petroleum Refinery has reduced the price of Automotive Gas Oil (AGO), commonly known as diesel, by ₦80 per litre, bringing its gantry price down from ₦1,780 to ₦1,700 per litre.

The new price took effect on Wednesday, October 7, 2026, according to a notice issued by the refinery to its customers. The reduction represents a 4.5 per cent decrease from the previous price.

The latest adjustment comes amid a decline in international crude oil prices and the cost of importing diesel into Nigeria.

Why Dangote reduced the price

Data from the Major Energies Marketers Association of Nigeria (MEMAN) showed that the estimated spot landing cost of diesel dropped significantly in recent days.

The cost fell by ₦127.28 per litre, from ₦1,823.68 on September 30 to ₦1,696.40 on October 2.

MEMAN’s seven-day average AGO import-parity cost also declined from ₦1,871.34 to ₦1,823.19 per litre during the same period.

International crude prices have also been moving lower. Recent market data showed Brent crude trading around the $98–$100 per barrel range, although global oil prices remain subject to considerable volatility because of ongoing supply concerns.

What the new price means

At ₦1,700 per litre, Dangote’s new diesel gantry price is now only slightly above MEMAN’s estimated spot import-parity cost of ₦1,696.40 per litre recorded on October 2.

The reduction could provide some relief to businesses and other diesel users that depend on Automotive Gas Oil to power generators, machinery, vehicles and other equipment.

However, the new Dangote refinery price does not automatically mean that every filling station will sell diesel at ₦1,700 per litre.

Retail prices can vary because of transportation, storage, distribution expenses and the margins added by marketers.

Second reduction within a month

The latest adjustment is the second reduction in Dangote Refinery’s diesel price within a month, according to reports.

The refinery said corresponding credit values for unloaded gantry volumes affected by the latest downward adjustment would be communicated separately to customers.

The move comes as petroleum marketers continue to monitor international crude prices and the changing cost of imported petroleum products.

For Nigerian businesses that rely heavily on diesel, the reduction could help lower operating costs if the lower refinery price is reflected in depot and retail prices.

For now, motorists and businesses should note that the latest Dangote reduction concerns diesel (AGO), not petrol.