Lagos depot owners, including African Terminal, AIPEC, Duport, and Ibeto, have reduced their diesel loading prices, now offering automotive gas oil below the Dangote Petroleum Refinery gantry price of N1,700 per litre. This development highlights the growing competition in Nigeria's deregulated petroleum market as suppliers vie for customers.
According to market data obtained on Thursday, 4 June 2026, four of the five major Lagos-based depots have set their diesel loading price at N1,698 per litre. This is N2 lower than the N1,700 per litre ex-depot price announced by Dangote Refinery.
New Diesel Prices at Depots
Industry experts attribute the price adjustments to an effort to attract bulk buyers, including marketers, manufacturers, and logistics operators who rely heavily on diesel for their daily operations. The changes aim to establish a new pricing benchmark in the automotive gas oil supply chain.
The depot price reductions come shortly after Dangote Refinery altered its pricing strategy in response to shifting market dynamics. Although the N2 difference may seem minor, market players note that such a variance can significantly influence large-volume purchases over months, affecting buying decisions and product distribution nationwide.
As of Thursday, the following depots are selling automotive gas oil at the indicated prices:
- A.A Rano – N1,700
- African Terminal – N1,698
- AIPEC – N1,698
- Aiteo – N1,700
- Dangote – N1,700
- Duport – N1,698
- Emadeb – N1,700
- Ibeto – N1,698
- Menj – N1,700
- Rain Oil – N1,800
- Sahara – N1,700
- Wosbab – N1,700
Manufacturers and Transport Firms Set to Benefit
Industry analysts predict that if supply strength persists and oil market volatility slows, diesel prices could decline further. All attention is now on whether Dangote Refinery will adjust its prices in response to competitors as they compete for customers.
Previously, the National Bureau of Statistics reported that the average retail price for diesel in January 2026 stood at N1,361.57 per litre, representing a 9.32% decrease from N1,501.58 in January 2025. On a month-on-month basis, the price dropped by 2.86% from N1,401.63 in December 2025.
