Dangote Refinery has reduced the price of Automotive Gas Oil (AGO), commonly known as diesel, to N1,700 per litre.
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The new price represents an N80 reduction from the previous gantry price of N1,780 per litre and took effect on Wednesday.
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Under the latest price arrangement, the refinery’s diesel is now between N75 and N85 per litre cheaper than imported AGO, based on current import landing costs.
The refinery disclosed the reduction in a new price template circulated to its customers.
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Data from the Major Energies Marketers Association of Nigeria (MEMAN), published in its petroleum products price bulletin on October 5, showed that imported diesel had a landing cost ranging between N1,775 and N1,785 per litre.
The comparison means Dangote Refinery’s new diesel price is N75 below the lower end of the imported product’s landing cost and N85 below the higher end.
The reduction comes amid changes in international crude oil prices, with West Texas Intermediate trading at about $89 per barrel and Brent crude at approximately $101 per barrel at the time of the report.
The latest adjustment further places the refinery’s locally produced diesel below the prevailing landing cost of imported AGO.
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