Dangote Refinery Hikes Diesel Price, Sparks Fresh Concerns

The Dangote Petroleum Refinery has increased the price of Automotive Gas Oil (AGO), commonly known as diesel, by ₦100 per litre, citing the prevailing market conditions.

According to Ireporter Online, the new adjustment will raise the refinery’s gantry price from ₦1,570 to ₦1,670 per litre, with the revised rate taking effect from midnight on August 21, 2026.

The latest increase represents a 6.4 per cent rise in the refinery’s diesel price after the company maintained a lower rate in recent weeks.

At ₦1,670 per litre, the new Dangote refinery price is ₦21 above the current landing cost of imported diesel, which stands at ₦1,649 per litre.

However, the revised rate remains below the ₦1,700 per litre price quoted by several Lagos-based petroleum depots on August 20. The affected depots include African Terminal, Integrated, Duport, Ibachem, Gulf Treasure and Pivot.

The price adjustment comes amid a rise in international crude oil prices, with Brent crude recently trading above $93 per barrel. Increased tensions involving Iran and the Strait of Hormuz have also contributed to pressure on global oil markets.

The development could have implications for diesel-dependent businesses and consumers, particularly as changes in diesel prices often affect transportation, logistics and operating costs across several sectors of the economy.