Good News for Nigerians As Diesel, Petrol Pump Prices Reduce

• The price of diesel has dropped across filling stations following the decision by Dangote Refinery to slash the cost of petrol
• Checks show that diesel, which is primarily used by manufacturing companies, now sells for below N1,000 per litre
• The price reduction is expected to bring relief to Nigerians who have been battling high inflation and a rising cost of living for months

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends. (edited)

Automotive Gas Oil (AGO) also known as Diesel prices have dropped across major fuel stations in Lagos, bringing welcome relief to businesses and households that rely heavily on the fuel for transportation, logistics, and power generation.

New data showed that at several retail points surveyed across the city, prices have dipped below the N1,000 per litre mark.

Petroleumprice.ng reports that at several retail points surveyed across the city, prices have dipped below the N1,000 mark.

Blenvic is selling diesel at N980 per litre, while NNPC’s outlet in Igando lists it at N990.

On LASU Isheri Road, Mobil has adjusted its pump price to N1,000, and Petrocam is dispensing at N999. A separate Mobil station in Idowu Egba is selling even lower at ₦985.

Diesel price changes at depots

Changes in diesel retail prices are driven by falling depot prices.

In Lagos, key suppliers including NIPCO, EMADEB, and MENJ are offering diesel at N915 per litre. IBETO and CHISCO are slightly higher at N917.

Depot operators attribute the decline to improved forex stability, increased product availability, and enhanced supply from both local refineries and import channels.

The drop in global oil prices also contributed to the cost of diesel.

Dangote slashes petrol prices

Dangote Petroleum Refinery recently reduced the fuel petrol price of its partners' filling stations, which include MRS, Ardova Plc (AP), Heyden, Optima Energy, TechnoOil, and Hyde.

According to a pricing table shared on X by the refinery, Lagos residents will now purchase petrol at N875 per litre, while prices in the South-West stand at N885.

Northern regions vary slightly, with N895 in the North-West and the Central areas, and N905 in the North-East.

The South-South and South-East regions will also see petrol priced at N905 per litre.

The refinery has urged consumers to report any deviations from these prices through dedicated hotlines.

Part of the statement reads:

"Buy from our partners' retail outlets nationwide at the approved pump prices (per litre): Our quality petrol and diesel are refined for superior eco-engine performance and are environmentally friendly."

Here is a breakdown

• Lagos: N875
• South-West: N885
• North-East: N905
• North-West & Central: N895
• South-South: N905

10 most expensive states to buy fuel

Earlier, Legit.ng reported that the National Bureau of Statistics has provided insight into the states with the highest average retail price of a litre of petrol.

The bureau, in a new report released, showed that the average petrol price was N1,239.33 in April 2025.

This represents a 76.73% increase compared to the average price value of N701.24 per litre recorded in April 2024.

Source: Legit.ng