Dangote Refinery has increased the ex-depot price of Automotive Gas Oil (diesel) to ₦1,800 per litre, up from ₦1,750, while also suspending loading operations at the facility. According to inside sources who spoke to Petroleumprice.ng, the suspension of loading and the Proforma Invoice (PFI) took effect around midnight, halting diesel allocations to marketers.
Market checks shows major depots closed with higher prices yesterday. In Lagos, Swift and Duport sold diesel at ₦1,980 per litre, while TMDK sold at ₦1,950 per litre. Depot data for Calabar shows Northwest depot sold at ₦1,985, while at Warri First Fortune dispensed at ₦1,950 per lire, and at Port Harcourt Matrix depot dispensed at ₦2,050 per litre.
The sharp upward movement is tied to international crude market pressure. As at the time of writing 08:20 am (WAT), Brent crude was trading at $124.9 per barrel (+5.82%), while West Texas Intermediate (WTI) stood at $109.2 per barrel (+2.18%). The rally is linked to heightened tensions around key global shipping routes, including the Strait of Hormuz, which has tightened supply expectations and pushed global benchmarks higher.
Industry operators say the combination of global oil price spikes and the suspension of loading activities is feeding immediate pricing pressure across Nigeria’s downstream market. More details to follow as the situation develops.