Dangote Refinery has increased the price of diesel at its gantry to N1,800 per litre, reversing part of a recent price reduction introduced just three days earlier.
Sponsored Ads
A market survey on Saturday showed that the refinery raised its Automotive Gas Oil (AGO), commonly known as diesel, by N100 per litre from N1,700 to N1,800.
Sponsored Ads
The latest adjustment came after the refinery reduced the price by N80 per litre on October 7, bringing it down from N1,780 to N1,700.
Despite the increase, Dangote Refinery’s diesel remained cheaper than supplies from several depot operators, who were selling the product at about N1,905 per litre as of Saturday.
RELATED STORIES
Related Posts
The depot operators charging the higher rate included Pivot, African Terminal and Integrated, among others. This left the refinery’s price N105 per litre below the prevailing depot price.
The latest increase could put further pressure on diesel prices in the retail market, particularly in Abuja and surrounding areas, where prices were reportedly ranging between N1,960 and N1,980 per litre.
Diesel price movements come amid fluctuations in the international crude oil market. Brent crude was trading at about $104 per barrel, while West Texas Intermediate (WTI) stood at approximately $91 per barrel as of the time of the report.
The latest adjustment follows a series of changes in the refinery’s gantry price, with the recent reduction offering only brief relief before the new increase.
Comments are closed.