Dangote Refinery has reduced the gantry price of automotive gas oil (AGO), commonly known as diesel, from N1,800 to N1,600 per litre.
The development was confirmed on Thursday by the spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike.
The latest adjustment represents a N200 reduction in diesel price, amounting to an 11.76 per cent decrease by the 650,000 barrels-per-day refinery.
The price cut is expected to trigger a reduction in retail diesel prices across the country, where the product had previously sold between N1,800 and N2,000 per litre in several locations.
Industry observers believe the decline in diesel prices could also create expectations for a possible reduction in the pump price of Premium Motor Spirit (PMS), also known as petrol.
Checks across filling stations in Abuja and nearby areas showed that petrol prices currently range between N1,350 and N1,365 per litre.
The fluctuation in local petroleum product prices has largely been linked to instability in the global energy market caused by ongoing tensions in the Middle East since February 28, 2026.
The conflict involving Iran, the United States and Israel has continued to impact international crude oil prices, contributing to uncertainty in fuel pricing globally.
As of Thursday morning, Brent crude was trading at about $95 per barrel, while West Texas Intermediate (WTI) crude stood at approximately $90 per barrel.
