Dangote Refinery has reduced the gantry price of automotive gas oil, known as diesel.
The mega refinery slashed the diesel price to N1,600 per liter, up from N1,800.
The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, confirmed the Dangote diesel price cut to DAILY POST on Thursday.
This means that the 650,000-barrel-per-day refinery cut diesel prices by N200 or 11.76 percent.
The development would push the retail diesel price, which stood around N1,800 and N2,000 per liter, downward nationwide.
The diesel price drop signals hope in premium motor spirit price reduction.
DAILY POST reports that fuel prices stood between N1,350 per liter and N1,365 in the majority of filling stations in Abuja and the surrounding area.
The volatility in domestic petrol product prices is linked to global energy price uncertainty due to the crisis in the Middle East since February 28th, 2026.
The conflict between Iran, the United States and Israel has caused a major shock in global energy prices.
Checks showed that Brent and West Texas Intermediate crude oil prices stood at $95 and $90 per barrel as of Thursday morning.