Dangote Refinery Slashes Diesel Price to N910 Per Litre After Petrol Rate Cut
The Dangote Refinery is taking charge again, slashing diesel prices by N40 per litre ahead of the Christmas season
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The recent price slash represents a 4.21% drop and comes one month after it hiked the commodity’s price
Experts say the price reduction is due to a number of factors, including falling crude oil prices due to geopolitical tensions
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Diesel prices have recorded another drop after Dangote Refinery reduced its gantry rate from N950 to N910 per litre.
The adjustment represents a 4.21 percent decline and comes barely a month after the upward review on November 6. A proforma invoice sighted by Petroleumprice.ng confirmed the new pricing, which takes effect immediately.
Source: Getty Images
Crude oil price decline drives downward adjustment
This latest move lands at a time when transport operators, manufacturers and small businesses continue to navigate rising energy costs.
The refinery’s decision signals a calculated response to changing global and local market conditions.
The reduction is tied closely to a softening in international crude oil prices over recent days. With crude cycles easing, refiners have gained more room to adjust output costs downward.
Dangote Refinery moved quickly to reflect this shift, aligning its diesel pricing with current feedstock realities.
Industry watchers note that the easing of crude prices has created temporary stability in the supply chain, offering refiners a chance to recalibrate without disrupting market flow.
For Nigeria, where diesel powers a significant portion of industrial and commercial activity, such adjustments carry immediate economic implications.
Improved domestic crude intake strengthens operations
Another factor behind the price drop is the improved scheduling of crude deliveries by the Nigerian National Petroleum Company Limited.
More predictable vessel movements have helped boost Dangote Refinery’s intake volumes, allowing smoother operations and a steadier supply pipeline.
With better access to crude, the refinery has strengthened its ability to stabilise diesel supply in the domestic market. This operational consistency is viewed as essential, especially as demand rises toward the end of the year.
Seasonal Energy demand pressures industries
Nigeria’s industrial and commercial sectors typically experience heightened energy consumption during the festive period.
Manufacturers, logistics firms and power-dependent small enterprises often face increased operational pressures as activity peaks.
The refinery’s decision to cut diesel prices appears aimed at easing those pressures.
By offering relief at a time when many businesses struggle with high energy costs, the refinery hopes to support productivity and reduce downstream volatility.
Analysts say the move reflects an understanding of seasonal market behaviour and broader economic needs.
Analysts point to three major drivers
Energy analysts attribute the diesel price cut to three core factors: • A decline in global crude prices that reduced refining costs.
• More reliable domestic crude supply driven by improved NNPCL vessel scheduling.
• Rising seasonal energy demand that prompted a strategic intervention to support industries.
Expected impact on transport and manufacturing
With the new diesel price now in effect, transport operators, manufacturers and small businesses are expected to feel the impact almost immediately.
Lower diesel costs could help reduce haulage rates, ease logistics expenses and stabilise production costs for firms that rely heavily on diesel-powered machinery or generators.
The adjustment sets a hopeful tone for end-of-year operations and reinforces Dangote Refinery’s growing influence in shaping the country’s downstream petroleum market.
Legit.ng previously reported that the mega refinery slashed the price of petrol to ease travels for Nigerians this yuletide season.
Source: Getty Images
Dangote Refinery has reduced its petrol ex-depot price from N843 to N840 per litre, just days after the NNPC announced its own downward adjustment.
The new price comes as Nigerians enter the festive season, prompting depot operators nationwide to swiftly review their rates to stay competitive.
Relief for Nigerians as depots, NNPC slash petrol prices
Legit.ng earlier reported that private depot owners are offering lower prices to marketers to attract sales as Dangote refinery increases petrol production to 50 million litres daily and more oil cargoes arrive in Nigeria.
The latest adjustment has caused petrol pump prices to drop at filling stations nationwide, including the Nigerian National Petroleum Corporation (NNPC) retail outlets
In Lagos, several depots revised prices immediately after fresh PMS cargoes hit the market. Vessels such as the ST Nenne, Sea Raptor, and Puffin Pacific arrived at the port, boosting stock levels.
Source: Legit.ng
