The average retail price of Automotive Gas Oil (diesel) rose by 23.98% year-on-year, increasing from N1,462.98 per litre in June 2024 to N1,813.81 per litre in June 2025.
Dangote Petroleum Refinery & Petrochemicals has announced a reduction in the gantry price of its diesel product by N55, from N1,075 per litre to N1,020 per litre.
The price of Automotive Gas Oil, popularly referred to as diesel, has soared by 66.29% year to date (YTD) to over N1,403 as of May 2024.
Aliko Dangote, Africa’s richest individual, announced that the supply of diesel from his Dangote Refinery has caused a roughly 60% decrease in the commodity’s price in the local market.
The Dangote refinery has announced a further reduction in the price of diesel from the N1000/litre reported earlier to N940/litre for customers buying 5million litres and above from the refinery.
The Dangote refinery has begun selling Automotive Gas Oil (AGO) diesel at a reduced rate of N1000 per litre. This represents a drop from the N1200/litre the refinery sold the product for when it began rolling out petroleum products about two weeks ago.
The chairman of the Dangote Group, Alhaji Aliko Dangote, has said that the significant cut in diesel prices to N1,200 will soon result in lower inflation rates.
In January 2024, there was a 39.11% increase in the average retail price of Automotive Gas Oil (Diesel) year-on-year, rising from N828.82 per litre in the same month last year to N1153.01 per litre in January 2024.
The review findings have unveiled the prevailing purchase range of diesel at the pump for Nigerians, fluctuating between N980 to N1150 per liter.
The continued surge in the price of diesel in the last 7 months has resulted in rising costs for residential and commercial property occupiers.
The average price per litre of Kerosene in Nigeria has dropped to ₦305.55 in February 2019 from ₦306.28 in January 2019.
Average price paid by consumers for diesel increased to ₦211.64 in September 2018 from ₦207.98 in August 2018.
