The Dangote Petroleum Refinery has reduced the gantry price of Automotive Gas Oil (AGO), commonly known as diesel, by ₦200 per litre.
The latest adjustment lowers the depot price from ₦1,800 to ₦1,600 per litre, following increased fuel supply in the Nigerian market.
The price reduction comes as newly imported petroleum cargoes arrive in the country, leading to stronger competition within the downstream oil sector. Industry operators confirmed that the new pricing took effect on May 26.
Stakeholders in the sector linked the development to the growing volume of imported fuel products being discharged at Nigerian ports. According to market sources, the influx of imported diesel has placed pressure on local suppliers to review their prices.
A representative of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) stated that the arrival of import vessels significantly changed market dynamics, forcing a downward adjustment in diesel prices.
The development also follows recent disagreements between fuel marketers and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over the approval of import licences. Several marketers were reportedly granted permits to import petroleum products, further boosting supply across the country.
Industry analysts believe the reduction in diesel prices could provide relief for businesses and transport operators who heavily depend on the product for daily operations. They noted that stable lower prices may help reduce production, logistics and transportation costs in different sectors of the economy.
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