After Petrol, Dangote Refinery Slashes Diesel, Jet Fuel Prices
- Dangote Refinery has announced the reduction of diesel prices, offering relief to transport and industrial users
- Market data showed that the latest cut reflects efforts to align domestic fuel pricing with global market trends
- Depot owners are now expected to adjust prices to stay competitive with Dangote Refinery
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.
Dangote Petroleum Refinery has reduced the price of Automotive Gas Oil (diesel) at the gantry by N100 to N1,600, providing much-needed hope for a drop in transport, logistics, and manufacturing costs in Nigeria.
The latest adjustment follows an earlier reduction of petrol prices by N75 for marketers.
Source: Getty Images
Petroleumprice.ng reports that the fall in prices is in line with a recent decline in global crude oil benchmarks following an agreement between the United States and Iran aimed at ending the recent Middle East war and reopening the vital Strait of Hormuz.
Dangote Refinery: Fuel prices drop in Nigeria
On Tuesday, June 16, Brent crude was trading at $78.98 per barrel, down 5.04%, and WTI stood at $76.05 per barrel, down 5.82%.
Analysts said the cut is expected to fuel a new wave of price competition in the downstream market in Nigeria, with depot prices having been high recently.
In recent days, diesel has sold for between N1,660 and N1,670 across major Lagos depots, namely African Terminal, Sahara, Ibeto, and Duport.
Here is a breakdown of diesel prices at depots on Tuesday
- African Terminal: N1,660
- Aiteo: N1,660
- Dangote: N1,700
- Duport: N1,658
- Emadeb: N1,670
- Eterna: N1,662
- Ibeto: N1,658
- Menj: N1,670
- Nipco: N1,680
- Rain Oil: N1,680
- Sahara: N1,660
- Tmdk: N1,670
- Wosbab: N1,670
- Danmarna: N1,680
- Edo Refinery: N1,685
- First Fortune: N1,680
- Optima: N1,680
Aviation fuel price drops in Nigeria
Dangote has also reduced the price of Aviation Turbine Kerosene (ATK), commonly known as jet fuel, in a move that could ease pressure on airline operating costs in Nigeria.
Market data showed that jet fuel price was cut by N100 per litre, from N1,550 to N1,450, representing a 6.5 per cent decline. The adjustment reflects recent movements in crude oil prices and improving global supply conditions.
The development comes at a time when airlines are grappling with high operational expenses, with jet fuel remaining one of the biggest cost drivers in the aviation sector.
Any reduction in ATK pricing is therefore expected to provide some relief to operators and could help stabilise ticket pricing if sustained.
Dangote supply crashes petrol import
Earlier, Legit.ng reported that the National Bureau of Statistics (NBS) disclosed that Nigeria's import bill for petrol decreased significantly by N87.401 billion in the first quarter of 2026.
The total value for petrol imports fell from N2.271 trillion to N87.401 billion, showing a 96.2% decrease when compared to the similar period in 2025.
Fuel did not feature among the top 19 traded products with the rest of the world, Africa, or West Africa during the review period.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
