Dangote Refinery increases diesel price days after reduction

Dangote Refinery has increased the price of its gantry Automotive Gas Oil, AGO, also known as diesel, a few days after reducing the cost of the commodity.

Market survey by DAILY POST on Saturday showed that Dangote Refinery increased its diesel price to N1,800 per litre from N1,700.

This means that the refinery raised its diesel price by N100 per litre.

Despite the increase, Dangote Refinery’s diesel remained N105 cheaper than that of depot owners, including Pivot, African Terminal, Integrated and others, who were selling at N1,905 per litre as of the time of filing this report.

DAILY POST reports that the latest upward adjustment in diesel prices may further push retail prices above the current range of N1,960 to N1,980 per litre in Abuja and its environs.

Recall that three days ago, Dangote Refinery reduced its diesel price by N80 per litre to N1,700 from N1,780.

DAILY POST reports that crude oil prices stood at $104 and $91 per barrel for Brent crude and West Texas Intermediate (WTI), respectively, as of the time of filing this report.