Dangote Petroleum Refinery has reduced its Automotive Gas Oil (AGO), popularly known as diesel, gantry price by ₦120 per litre to ₦1,720.
The latest adjustment represents a 6.5 per cent cut from the previous price of ₦1,840 per litre.
The reduction comes weeks after the refinery raised its diesel gantry price from ₦1,800 to ₦1,840 per litre, amid rising crude oil prices.
It also follows a period of supply disruptions in which diesel loading at the refinery's gantry was suspended, while depot prices in Lagos and Warri climbed to as high as ₦1,900 per litre.
The latest price cut brings Dangote's diesel gantry rate below the ₦1,800 mark, potentially easing procurement costs for marketers and bulk buyers.
The new reduction could trigger fresh price adjustments across the downstream market as competing suppliers respond to the lower gantry rate.
However, the extent to which the cut will reflect in depot and retail prices will depend on distribution costs and marketers' pricing decisions.