Dangote_Refinery cuts diesel price

The Dangote Petroleum Refinery>>> has reduced the ex-depot price of Automotive Gas Oil (diesel) by N200 per litre, bringing the gantry price down from N1,800 to N1,600. This price adjustment, effective around May 26-29, 2026, follows the arrival of fresh imported petroleum products into Nigeria>>> by other marketers. The move is seen as a strategic response to increased competition in the downstream oil sector, especially after the Nigeria — Nigerian Midstream and Downstream Petroleum Regulatory Authority>>> approved import licenses for several marketers, leading to a renewed inflow of imported diesel cargoes. The Dangote Petroleum Refinery>>> had previously initiated legal action against the Nigeria — Nigerian Midstream and Downstream Petroleum Regulatory Authority>>> regarding these import approvals. Industry stakeholders, including the Petroleum Products Retail Outlets Owners Association of Nigeria>>>, view this price cut as a positive outcome of market rivalry, benefiting consumers with lower prices. The new price is reportedly lower than the current landing cost for some imported diesel, indicating Dangote Petroleum Refinery>>>'s strategy to undercut imported supply and maintain market share. Global oil market fluctuations, including a drop in Brent Crude>>> prices and ongoing Middle East conflicts, are also noted as background factors, though the primary driver for this specific price cut is local market competition.