Dangote Petroleum Refinery has reduced its Automotive Gas Oil (diesel) gantry price by N80, cutting the price from N1,780 to N1,700 per litre.

The new price will take effect from Wednesday, October 7, 2026, according to a notice issued to customers by the refinery.

The reduction represents a 4.5 per cent decline and comes amid falling diesel import costs and volatility in the international crude oil market, with Brent crude falling to about $98 per barrel on Tuesday before recovering to around $100.

Petroleumprice.ng reports that the latest reduction brings Dangote’s diesel price close to the prevailing import-parity cost and marks the second price cut by the refinery within a month.

Data from the Major Energies Marketers Association of Nigeria showed that the estimated spot landing cost of diesel fell by N127.28 per litre within two days, from N1,823.68 per litre on September 30 to N1,696.40 per litre on October 2.

MEMAN’s Energy Bulletin also showed that the seven-day average AGO import-parity cost declined from N1,871.34 per litre to N1,823.19 per litre over the same period.

The decline in import costs coincided with weaker international crude prices. Brent crude fell to about $98 per barrel during trading on Tuesday before recovering to around $100, while West Texas Intermediate also recorded a decline below $90.

The movement in crude prices came amid continued volatility in the global oil market, with supply concerns linked to the Middle East conflict weighing against efforts by major producers and consuming nations to maintain adequate supplies.

In its notice to customers, the Dangote refinery stated that corresponding credit values on all unloaded gantry volumes affected by the downward price adjustment would be communicated separately.

The refinery’s previous diesel price reduction came amid a decline in international crude prices and changes in the cost of imported petroleum products.

The new N1,700 per litre gantry price is slightly above MEMAN’s estimated spot import-parity cost of N1,696.40 per litre recorded on October 2.

The reduction could put further pressure on depot prices and influence diesel pricing across the domestic market, particularly for bulk consumers and businesses that rely heavily on AGO for power generation and operations.