Again, Dangote Announces Another Increase, Diesel Price by N100
- Dangote Petroleum Refinery increased its diesel gantry price by N100 per litre, taking effect from midnight on Friday, September 4, 2026
- The latest diesel hike follows a separate N65 per litre rise in petrol prices that the refinery announced days earlier on August 29, 2026
- Rising global crude oil prices and disruptions to refining operations in the Middle East and Russia are among the factors driving the adjustments
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of Nigeria’s economy, stocks, and market trends.
The Dangote Petroleum Refinery has raised its gantry price for Automotive Gas Oil (AGO), commonly known as diesel, from N1,750 to N1,850 per litre, with the new rate taking effect from midnight on Friday, September 4, 2026.
The adjustment, citing figures from Petroleumprice.ng, marks a 5.7% increase and is the second such move in quick succession.
Source: UGC
An earlier round pushed the gantry price from N1,670 to N1,750 per litre, meaning the refinery has collectively added N180 per litre to its diesel price across both recent adjustments.
Petrol Price Also Climbs
The diesel revision follows a separate decision by the refinery to raise its petrol price.
The pump-out price for Premium Motor Spirit (PMS) moved from N1,200 to N1,265 per litre, a N65 increase that took effect on Saturday, August 29, 2026, according to a price change circular cited by Petroleumprice.ng.
The refinery also revised its coastal PMS price from N1,582,380 to N1,669,545 per metric tonne, an increase of N87,165. Both changes covered petrol purchased through gantry and coastal supply channels.
The refinery instructed customers to return existing Automated Truck Loading (ATC) tickets for repricing, adding that new volume contracts would need to be issued before loading could restart under the updated terms.
Global Oil Markets Add Pressure
The price moves are happening against a backdrop of rising international crude oil values. As of 12:10 p.m. West Africa Time on Thursday, September 3, Brent crude was trading at $97.29 per barrel, up $1.66 or 1.74%, while West Texas Intermediate (WTI) stood at $92.77 per barrel, a gain of $1.76 or 1.93%.
Alongside higher crude prices, disruptions to refining activity in parts of the Middle East and Russia have tightened the availability of refined petroleum products on international markets.
Source: Getty Images
Market analysts have pointed to constrained refining capacity as a growing source of upward pressure, and the disruptions are expected to keep supplies of products such as petrol and diesel under strain into 2027.
What This Means for Nigerian Consumers
For Nigeria's downstream sector, the new Dangote diesel benchmark could prompt depot operators and marketers to re-evaluate their costs.
How much of the increase filters through to retail prices will depend on factors such as product availability, transportation costs, demand levels, and trading margins.
NNPC petrol price
Earlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) has raised the pump price of petrol at its retail outlets nationwide, with motorists in Lagos now paying N1,299 per litre and those in parts of Abuja paying as much as N1,345 per litre.
The price adjustment follows a sharp rise in wholesale costs driven by three consecutive gantry price increases.
Elevated crude prices raise the replacement cost of petroleum products and could push domestic prices higher still.
Source: Legit.ng
