Harrison EDEH
DANGOTE Petroleum Refinery has raised its Automotive Gas Oil (AGO) gantry price from ₦1,670 to ₦1,750 per litre.
This development,it was learnt has prompted most depot operators to suspend diesel sales as the market responds to the new wholesale price.
The ₦80 per litre increase, representing a 4.8 percent rise, takes effect from September 1, 2026.
According to Petroleumprice.ng,the price adjustment quickly reverberated across the Lagos depot market, where diesel was selling at an average of about ₦1,700 per litre before the refinery announced the new rate.
Informed sources in the market said several depot owners stopped sales after receiving news of the Dangote adjustment, as operators reassessed their selling prices and replacement costs in response to the higher refinery benchmark.
The development means Dangote’s new gantry price is now ₦50 per litre above the prevailing average depot price in Lagos, which could lead to operators review of their rates to suit the new wholesale cost.
In a customer communication issued on Monday, Dangote Refinery announced the revised AGO price and directed customers to return all Authority to Collect (ATC) documents for repricing.
The refinery said new volume contracts would subsequently be issued to enable loading to resume at the revised price.
The latest increase marks another upward adjustment in Dangote’s diesel pricing, with the refinery’s AGO price previously standing at ₦1,670 per litre.
Notably,the immediate response from depot operators underscores the speed at which changes in refinery-level pricing can influence wholesale diesel transactions.
However, the extent to which the latest increase will translate into higher prices for end-users will depend on subsequent depot pricing, transportation costs and other distribution expenses.
With petroleum downstream sector currently dominating debates of most frontline political actors, economic watchers urged the government to ensure Nigerian own refineries work optimally to ensure competitive fair pricing.
