Dangote Petroleum Refinery has raised its Automotive Gas Oil (AGO) gantry price by N100 per litre, moving the rate from N1,570 to N1,670, with the new pricing taking effect from midnight on August 21, 2026. The adjustment represents a 6.4% rise and reverses a period during which the refinery had held its diesel price steady, according to pricing information seen on Thursday.
How Dangote's New Price Compares
At N1,670 per litre, the refinery's diesel price sits N21 above the current diesel landing cost of N1,649 per litre. It remains N30 cheaper than the N1,700 per litre rate quoted by several Lagos depots on Thursday, including African Terminal, Integrated, Duport, Ibachem, Gulf Treasure and Pivot. Marketers buying directly from Dangote still hold a cost advantage over those sourcing from those depots, though the gap has narrowed considerably after the latest adjustment.
What the Increase Means for Businesses
Diesel occupies a critical role in Nigeria's economy because of chronic gaps in the public electricity supply, with businesses across sectors depending on generators to keep operations running. Transport companies, manufacturers, telecoms operators, construction firms and other diesel-reliant businesses could see their operating costs climb if the price increase flows through to the retail level. The adjustment comes as global crude oil markets remain under pressure. Brent crude has recently traded above $93 a barrel, driven by geopolitical tensions linked to Iran and disruptions around the Strait of Hormuz. Movements in international crude prices typically feed into the cost of refined products and can set a benchmark for domestic suppliers.
Market Implications and Previous Prices
Nigeria has leaned increasingly on Dangote's refinery to supply petroleum products locally as the facility expands its output capacity. The new gantry rate could lead marketers to revisit their own pricing in the days ahead, with any wholesale increase likely to ripple into transport, manufacturing and power generation costs across the economy. Market watchers will also be tracking whether competing suppliers adjust their rates in response. Legit.ng earlier reported that the National Bureau of Statistics has announced that the average retail price paid by consumers for Automotive Gas Oil (Diesel) stood at N1,361.57 per litre. This represents a 9.32% decrease compared with N1,501.58. The data was published in the price watch report for January 2026. The NBS said the data for the price report was collected from sample outlets across the 774 local government areas in the 36 states and the Federal Capital Territory, Abuja, with over 10,000 respondents surveyed. Based on state-level analysis, Lagos recorded the highest average retail price of diesel at N1,560.82, followed by Akwa Ibom (N1,558.52) and Borno (N1,480.00).
