Nigeria’s diesel market is heating up again, and operators are already feeling the pressure. In a fresh pricing move, checks by Petroleumprice.ng confirms that Dangote Refinery has raised its ex-depot price of Automotive Gas Oil (AGO) by ₦170, from ₦880 bringing the new gantry price to ₦1,050 per litre.
For many depots, marketers and bulk buyers, this adjustment was only a matter of time. With Brent crude trading at $84.74 per barrel, up 9.00%, feedstock costs have surged due to the ongoing middle east conflict, tightening refinery margins are forcing price realignment at the gantry.
Market intelligence indicates that diesel has already been firming across private depots, with the average ex-depot price hovering around ₦1,150 per litre. The new Dangote rate is therefore expected to reset market benchmarks and influence secondary distribution pricing across key consumption hubs.
Loading activities were briefly halted yesterday as marketers recalibrated positions and awaited confirmation of the new pricing template. However, truck-out operations have since resumed under the revised structure.
Downstream analysts say the market is now in a firm cycle. If crude sustains its bullish momentum, further upward price adjustments across the value chain cannot be ruled out.
For now, stakeholders are watching international oil benchmarks closely, knowing fully well that when crude rallies, the gantry responds.