Dangote Petroleum Refinery has suspended diesel loading at its gantry, raising expectations of a price review as Brent crude trades at about $116 per barrel and some depots have already increased their Automotive Gas Oil (AGO) prices.
An industry source who spoke to Petroleumprice.ng linked the suspension to rising international crude oil prices, which have increased pressure on the refinery’s pricing decisions.
According to a truck driver familiar with the loading operations, Dangote Refinery loaded all the Premium Motor Spirit (PMS) available at the gantry, while Automotive Gas Oil (AGO) loading was stopped at around 3:00 am on Saturday. The driver said the suspension affected only diesel, with indications that prices could increase.
Although the refinery has not publicly confirmed the reason for the suspension or announced a new diesel price, the development comes as depot operators adjust their selling prices in anticipation of a possible review by Dangote Refinery.
Checks by Petroleumprice.ng showed that AGO prices at some depots in Lagos and Warri had reached between ₦1,830 and ₦1,900 per litre, with some operators already adjusting prices on Friday ahead of the anticipated refinery review.
In Warri, Matrix depot was selling diesel at ₦1,900 per litre, while Rain Oil quoted ₦1,830 per litre.
In Lagos, Wosbab and Prudent depots were selling AGO at ₦1,900 per litre, while Pivot, Integrated and Duport quoted ₦1,850 per litre.
The price differences across the two locations reflect varying selling rates among depot operators as the market responds to rising crude oil prices and uncertainty over the refinery’s next pricing decision.
Brent crude’s rise to around $116 per barrel is a key factor in the current market outlook. Higher international crude prices can increase the cost of supplying and replacing refined petroleum products, potentially putting pressure on domestic wholesale prices.
However, the extent to which crude oil movements translate into changes in Dangote Refinery’s diesel price will depend on its pricing decisions and prevailing supply conditions.
The suspension has placed diesel marketers on alert, with operators watching for an official announcement that could determine their next round of pricing adjustments. If the refinery raises its gantry price, depots may reassess their selling rates to reflect the new replacement cost.
For now, the suspension and the prices recorded in Lagos and Warri point to growing uncertainty in the diesel market. Petroleumprice.ng will continue to monitor the refinery’s loading operations and any official announcement on diesel pricing.