Dangote Petroleum Refinery has resumed Automotive Gas Oil (AGO) sales after an eight-day suspension. The gantry price has increased to ₦1,650 per litre from ₦1,500 per litre, according to data obtained by Petroleumprice.ng.
The new price represents an increase of ₦150 per litre, or 10 percent, and takes immediate effect as the refinery reopens diesel loading to marketers.
The resumption comes against the backdrop of sustained volatility in the international oil market, where crude prices remain elevated following renewed geopolitical tensions in the Middle East.
As of Friday afternoon, Brent crude traded at $97.76 per barrel, while West Texas Intermediate (WTI) stood at $89.87 per barrel, with global markets continuing to price in heightened geopolitical risks despite a modest pullback from recent highs.
The refinery suspended diesel loading eight days ago. The suspension tightened supply and forced marketers to buy from private depots at higher prices after changes to its marketing framework.
Industry sources told Petroleumprice.ng that the decision to resume diesel sales at a higher price reflects the increase in replacement costs following the sharp rise in international crude prices over the past two weeks.
The Middle East conflict has continued to influence global energy markets, with attacks on commercial shipping across key maritime routes increasing freight costs, insurance premiums and the overall cost of crude procurement for refiners worldwide.
Market participants said the revised gantry price is expected to influence ex-depot diesel prices across the country, as distributors adjust to the refinery's latest pricing template.
Attention is now shifting to whether further adjustments will be made to other refined petroleum products should international crude prices remain elevated and replacement costs continue to rise.