KEY POINTS
- Dangote Refinery has reduced the gantry diesel price to ₦910 per litre from ₦950.
- The cut follows declining global crude prices and improved domestic fuel intake.
- The refinery is responding to seasonal energy demand and market expectations as crude hovers around 64 dollars a barrel.
Dangote Refinery has trimmed the gantry price of diesel to ₦910 per litre, easing it down from ₦950 and signalling another attempt by the facility to pass on some of the relief coming from softer global oil markets.
The reduction amounts to a little over four per cent and lands at a time when local suppliers and industrial buyers are watching the refinery’s price movements closely, given the pressure high energy costs have placed on transporters and manufacturers in recent months.
The company’s latest cut, according to petroleum market trackers, is largely tied to the downturn in international crude cycles and a modest rise in domestic intake as distributors respond to shifting demand patterns. Industry data show crude recently sliding to about 64 dollars a barrel, creating room for marginal downward adjustments along the value chain.
Refinery Responds to Global Oil Drift and Seasonal Energy Needs
Market analysts say the refinery is also eyeing seasonal energy demand, which typically climbs as households and businesses adjust their consumption patterns during the final quarter of the year. By softening its diesel rate at the gantry, the refinery appears to be positioning itself to stimulate more offtake from distributors while aligning with broader price sentiment in the global market.
Further details from the refinery and regulators are expected in the coming days, particularly as stakeholders continue to gauge how far domestic prices might fall if crude maintains its current trajectory.
