Depots Reduce Diesel Price Below Dangote Refinery Gantry Price
- Lagos depot owners, including African Terminal, AIPEC, Duport and Ibeto, have reduced diesel loading prices
- The oil marketers' new rate is now lower than Dangote Refinery's N1,700 gantry rate recently announced
- The price cut highlights growing competition in Nigeria's deregulated petroleum market as suppliers compete
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Some depots have reduced their automotive gas oil loading price below the Dangote Petroleum Refinery N1,700/ litre gantry price as competition intensifies in the deregulated market of the product.
According to market data, four out of five of the major Lagos-based depots, Africa Terminal, AIPEC, Duport and Ibeto have reduced the diesel loading price to N1,698/litre on Thursday, 4 June 2026.
Source: Getty Images
The drop in the price places them at N2/litre below the N1,700/litre ex-depot price of Dangote refinery, Petroluemprice.ng
New diesel prices at depots
Industry experts said that the changes in prices are fueled by an effort to woo some of the bulk buyers (marketers, manufacturers, and logistic operators) who are extremely reliant on diesel to power their day-to-day operations and to create a new pricing benchmark in the supply chain of AGO.
The adjustments to depot diesel price came a few days after Dangote refinery changed its pricing strategy due to a shift in the market dynamics.
Although the N2 variation appears to be a minor development, market players acknowledged that such a price difference can have a significant impact on massive quantity purchases over months.
As a result, price differences are considered influential on the buying decisions of marketers and the distribution of the product around the country.
From the data provided by Petroleumprice.ng, Africa Terminal, AIPEC, Duport, and Ibeto are selling AGO at N1,698/litre as of Thursday.
A.A Rano, AIPEC, Aiteo, Dangote, Emadeb, Menj, Sahara and Wosbab were all selling at N1,700/litre, while Rain Oil has the highest price at N1,800/litre.
Source: Getty Images
The development, industry analysts said, will likely further drive diesel prices down if supply strength persists and oil market volatility slows down.
All eyes are on whether Dangote refinery will adjust its price following its competitors as they jostle for customers.
Selected diesel depot prices
- A.A Rano – N1,700
- African Terminal – N1,698
- AIPEC – N1,698
- Aiteo – N1,700
- Dangote – N1,700
- Duport – N1,698
- Emadeb – N1,700
- Ibeto – N1,698
- Menj – N1,700
- Rain Oil – N1,800
- Sahara – N1,700
- Wosbab – N1,700
Diesel price drops, 10 states record lowest prices
Earlier, Legit.ng reported that the National Bureau of Statistics announced that the average retail price paid by consumers for Automotive Gas Oil (Diesel) stood at N1,361.57 per litre in January 2026.
This represents a 9.32% decrease compared with N1,501.58 recorded in January 2025.
On a month-on-month basis, the average retail price declined by 2.86% from N1,401.63 in December 2025.
Source: Legit.ng
