Fresh Blow For Businesses As Dangote Raises Diesel Price To ₦1,800 Per Litre

Dangote Refinery has increased the gantry price of Automotive Gas Oil (AGO), commonly known as diesel, by ₦100 per litre, raising the cost from ₦1,700 to ₦1,800 per litre just three days after announcing a price reduction.

According to Bush Radio Academy, a market survey conducted on Saturday showed that the latest adjustment reversed part of the refinery’s earlier price cut, which had reduced diesel from ₦1,780 to ₦1,700 per litre.

Despite the increase, Dangote Refinery’s diesel remained cheaper than supplies from several independent depot operators. Pivot, African Terminal, Integrated and other dealers were reportedly selling the product at approximately ₦1,905 per litre as of Saturday, putting the refinery’s price ₦105 below the depot rate.

The latest adjustment could increase pressure on businesses and motorists who depend on diesel, particularly in Abuja and neighbouring areas, where retail prices were reportedly ranging between ₦1,960 and ₦1,980 per litre.

Diesel is widely used by businesses, industries and households to power generators and equipment, making changes in its price a significant concern for operating costs and the prices of goods and services.

The increase comes amid elevated crude oil prices in the international market. Brent crude was reportedly trading at about $104 per barrel, while West Texas Intermediate (WTI) stood at approximately $91 per barrel at the time of the report.

The latest price movement highlights the volatility in the domestic diesel market, with consumers and businesses facing uncertainty following the refinery’s recent reduction and subsequent increase.