Dangote Refinery has increased the price of Automotive Gas Oil (AGO), commonly known as diesel, at its gantry nationwide as crude oil prices surged above $94 per barrel.
A market survey conducted by DAILY POST on Thursday showed that the refinery raised its diesel price from ₦1,570 to ₦1,670 per litre.
The latest adjustment represents a ₦100 per litre increase, or about 6.4 per cent, by the 700,000-barrel-per-day refinery.
However, Dangote Refinery had not officially confirmed the latest price increase to DAILY POST as of the time of filing this report.
The development is expected to push diesel pump prices above the current range of ₦1,700 to ₦1,790 per litre in Abuja.
On August 6, Dangote Refinery had reduced its gantry prices for diesel and Premium Motor Spirit (PMS) to ₦1,570 and ₦1,165 per litre respectively.
While the refinery’s diesel price was increased, its gantry price for petrol remained unchanged at ₦1,165 per litre as of the time of reporting.
The latest development comes amid a rise in global crude oil prices. As of 2 p.m. on Thursday, Brent crude had increased by two per cent to $94.13 per barrel, while West Texas Intermediate (WTI) rose by three per cent to $87.13 per barrel.
