Dangote Petroleum Refinery has reduced the gantry price of Automotive Gas Oil, popularly known as diesel, by ₦200 per litre.
The latest adjustment brings the depot price down from ₦1,800 to ₦1,600 per litre, offering some relief to marketers, transporters and businesses that depend heavily on diesel for daily operations.
According to reports, the new price took effect on May 26, following the arrival of fresh imported fuel cargoes into Nigeria. The increased supply is said to have intensified competition in the downstream petroleum market.
Industry operators linked the price cut to growing market pressure, as more imported petroleum products are being discharged into the country after some marketers secured import licences.
The development may help reduce operating costs for businesses, especially in logistics, manufacturing, transport and other sectors where diesel remains a major expense.
However, analysts say the impact on consumers will depend on how long the new price is sustained and whether marketers pass the reduction down the supply chain.
