Dangote cuts diesel price to N1,600/liter, hope rises for petrol reduction

Dangote Refinery slashed diesel price from N1,800 to N1,600 per liter Thursday, an 11.76% reduction. Independent Petroleum Marketers Association spokesperson Chinedu Ukadike confirmed the price drop to DAILY POST.

This should push retail diesel prices nationwide downward from current N1,800-N2,000 range. The reduction signals hope for premium motor spirit (petrol) price cuts as well—Abuja petrol prices currently stand at N1,350-N1,365 per liter.

The price volatility stems from Middle East conflict since February 28, 2026, which has disrupted global energy markets. Brent crude trades at $95/barrel, West Texas Intermediate at $90/barrel as of Thursday morning.

Will this price cut continue, or will geopolitical tensions push fuel prices back up next month?

SOURCE: https://dailypost.ng/2026/05/28/dangote-refinery-reduces-diesel-price-as-hope-rises-for-fuel-cut/