Dangote Refinery Hikes Diesel Price to ₦1,050/Litre Amid Crude Rally

Nigeria’s diesel market has taken another upward turn after the Dangote Refinery reviewed its pricing structure, raising the ex-depot rate of Automotive Gas Oil (AGO) to ₦1,050 per litre.

The new price reflects a ₦170 increase from the previous ₦880 gantry rate, a move that industry players say mirrors growing pressure in the global oil market.

The development comes as Brent crude trades at $84.74 per barrel, climbing by 9 per cent amid escalating tensions in the Middle East. Rising crude prices have significantly increased feedstock costs for refiners, narrowing margins, and prompting adjustments at the depot level.

Even before this revision, diesel prices across several private depots had been trending upward, with average ex-depot rates approaching ₦1,150 per litre. Market watchers believe the Dangote adjustment will now serve as a new reference point for pricing nationwide.

The announcement briefly disrupted loading activities, as marketers paused operations to assess the impact of the new template. Truck-out movements have since resumed under the updated pricing regime.

Energy analysts say the market is clearly entering a stronger pricing phase. Should crude oil maintain its current trajectory, further increases along the distribution chain remain a possibility.

For operators and bulk buyers, the message is clear: global oil volatility continues to shape domestic fuel economics.