Dangote Petroleum Refinery has reduced its gantry price of Automotive Gas Oil (diesel) by ₦200, bringing the new ex-depot price down to ₦ 1,600 per litre amid the recent decline in global crude oil prices.
The downward review comes as international oil benchmarks continue to weaken following easing concerns over supply disruptions linked to the Strait of Hormuz crisis and ongoing diplomatic negotiations involving the United States and Iran.
As of Tuesday evening, Brent crude traded below $98 per barrel, while U.S. West Texas Intermediate hovered around $91 per barrel after both benchmarks posted losses of more than five percent.
Industry operators said the latest adjustment by Dangote Refinery is expected to trigger fresh downward price reviews across private depots, particularly in Lagos, Warri and Port Harcourt, where marketers have already started adjusting diesel prices in response to softer international oil prices.
Market participants noted that several private depot owners are likely to follow suit in the coming days as competition intensifies and replacement costs continue to decline.
The new pricing adjustment reinforces the growing influence of global crude oil movements on Nigeria’s downstream petroleum market, especially as domestic refiners and depot operators respond more rapidly to changes in international energy prices.