Dangote Refinery has increased the gantry price of Automotive Gas Oil (AGO), commonly known as diesel, just days after announcing a reduction in its price.
A market survey conducted by ZINGTIE on Saturday indicated that the refinery raised its diesel price from N1,700 to N1,800 per litre.
The latest adjustment represents an increase of N100 per litre.
Despite the upward review, Dangote Refinery’s diesel remains N105 per litre cheaper than the product sold by depot operators, including Pivot, African Terminal, Integrated and others, which were selling at N1,905 per litre as of the time of filing this report.
The latest price increase could trigger further rises in retail diesel prices, potentially pushing them above the prevailing range of N1,960 to N1,980 per litre in Abuja and surrounding areas.
It will be recalled that three days earlier, Dangote Refinery reduced its diesel price by N80 per litre, bringing it down from N1,780 to N1,700.
Meanwhile, Brent crude and West Texas Intermediate (WTI) were trading at $104 and $91 per barrel, respectively, as of the time of filing this report.
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