Price War: Depot Owners Cut Diesel Prices Below Dangote’s New Rate
- Duport, Ibachem and Ibeto reduced diesel prices to N1,825 per litre, undercutting Dangote Refinery’s revised gantry price
- African Terminal and Integrated listed diesel at N1,830 per litre, while Menj quoted N1,835
- The price adjustments came less than 24 hours after Dangote Refinery raised its diesel price by N40 per litre
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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.
Depot owners in Lagos have cut diesel prices below Dangote Petroleum Refinery’s new gantry rate of N1,840 per litre, less than 24 hours after the refinery announced a price increase.
The latest adjustments highlight intensifying competition among suppliers in Nigeria’s downstream petroleum market, with several depots offering Automotive Gas Oil (AGO), commonly known as diesel, at lower rates than the refinery.
Source: Getty Images
Market data reviewed by Petroleumprice.ng on Wednesday, October 28, 2026, showed that Duport, Ibachem and Ibeto priced diesel at N1,825 per litre.
African Terminal and Integrated listed the product at N1,830 per litre, while Menj quoted N1,835 per litre.
Lagos depots cut diesel prices
The latest price changes put the identified depots’ rates between N5 and N15 per litre below Dangote Refinery’s revised gantry price.
Duport and Ibachem reduced their diesel prices from N1,835 to N1,825 per litre, representing a reduction of N10.
African Terminal revised its price to N1,830 per litre, while Integrated also listed the product at the same rate. Ibeto quoted N1,825 per litre, with Menj selling at N1,835.
The price differences could give buyers an incentive to compare suppliers before purchasing diesel, although actual transaction prices may vary depending on volumes and commercial terms.
Dangote Refinery raises diesel price
Dangote Refinery increased its diesel gantry price from N1,800 to N1,840 per litre, an increase of N40 or approximately 2.2%, effective Wednesday, October 28.
In a circular, the refinery’s Group Commercial Operations directed customers to return existing Authority to Collect (ATC) documents for repricing.
Source: Getty Images
The refinery also stated that new volume contracts would be issued to enable customers to load diesel at the revised rate.
The increase came as some Lagos depots listed diesel below the refinery’s new price, highlighting differences in supplier pricing.
While the adjustments point to increased competition for customers, the available market data do not establish the reasons behind each depot’s decision to lower its price.
The latest figures show that buyers could find diesel at prices below Dangote Refinery’s revised gantry rate, although the final cost would depend on the supplier and the terms of each transaction.
Marketers release new petrol prices as crude oil hits $107
Earlier, Legit.ng reported that marketers have released new wholesale petrol prices as international crude oil prices climb sharply, raising concerns about the cost of restocking products in the downstream market.
Market data collected on Thursday, September 10, showed largely stable petrol prices at most depots across Lagos, Port Harcourt, Calabar, and Warri, even as Brent crude surged above $107 per barrel, an increase of roughly 8% in four days.
West Texas Intermediate also crossed $101 per barrel amid global supply concerns.
Source: Legit.ng
