Dangote Slashes Diesel Ex-Depot Price by N200 After Petrol Reduction
- Dangote Refinery reduced its diesel price after a brief increase to N1,950
- The earlier increase was driven by rising crude oil prices and supply disruptions
- The latest adjustment came with the resumption of loading operations at the refinery
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.
Dangote Petroleum Refinery has reduced its ex-depot price of Automotive Gas Oil (diesel) to N1,750 per litre.
The new rate is a N200 or 10.25% reduction from the previous price of N1,950 and offers relief to downstream marketers and transport operators.
Source: Getty Images
Ex-depot price refers to the amount refineries or bulk storage facilities charge marketers when selling petroleum products such as petrol or diesel before distribution and retail.
Loading resumes at Dangote Refinery
Petroluemprice.ng reported that loading at the Dangote refinery resumed on Wednesday, April 8, at around 3pm, following the initial dip in crude oil prices, stabilising supply and bringing gantry operations back on track.
With loading operations back on track, diesel availability is expected to improve in key distribution hubs, including Lagos, Port Harcourt and Warri, providing relief for consumers.
In a related move, the refinery on Wednesday, April 8, cut its ex-gantry petrol price to N1,200 per litre from N1,275 announced a day earlier, reversing a N75 increase that had reflected shifting global oil dynamics.
Industry sources noted that the petrol price adjustment is unlikely to significantly impact the market, as the increase lasted only a few hours.
Global oil uncertainty persists
The price cut might change again, as reports have it that Iran reportedly shut the Strait of Hormuz less than 24 hours after agreeing to a ceasefire with the United States, citing Israel’s continued strikes on Lebanon.
As of 08.40 am on Thursday, April 9, Brent crude was trading at $97.20 per barrel, up 2.59%, while West Texas Intermediate (WTI) stood at $97.37 per barrel, a 3.14% increase.
Source: Getty Images
Prices had initially dropped after a truce announcement that included reopening the Strait of Hormuz, a key global shipping route.
However, renewed tensions following Israeli strikes on Lebanon and Iran’s warning of a possible response have reignited fears of supply disruptions.
Analysts say continued uncertainty could trigger further price swings, potentially influencing domestic fuel pricing in Nigeria in the coming days.
States with the highest diesel prices
Earlier, Legit.ng reported that the NBS announced that the average retail price paid by consumers for diesel stood at N1,361.57 per litre in January 2026.
This represented 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.
Based on state-level analysis, Lagos recorded the highest average retail price of diesel at N1,560.82, followed by Akwa Ibom (N1,558.52) and Borno (N1,480.00).
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
