The price of Automotive Gas Oil (AGO), popularly known as diesel, has risen above ₦2,000 per litre in parts of Nigeria, adding fresh pressure to businesses and consumers that depend on the product for transportation, electricity generation and industrial operations.
A market survey conducted on Friday, September 4, 2026, showed diesel selling between ₦2,000 and ₦2,020 per litre at several filling stations in Abuja and surrounding areas. The latest prices represent an increase of about ₦220 to ₦300 per litre from the previous range of ₦1,700 to ₦1,800.
The increase followed a rise in depot prices, with some operators reportedly adjusting their selling price to around ₦1,900 per litre. Dangote Refinery also reportedly increased its gantry diesel price by ₦100 to ₦1,850 per litre amid higher crude oil prices.
The development is significant for Nigeria’s economy because diesel remains an important source of energy for businesses operating amid unreliable electricity supply. Manufacturers, telecommunications companies, transport operators and small businesses that rely on diesel-powered generators could face higher operating expenses as a result of the latest increase.
Higher diesel costs could also feed into transportation and production expenses, potentially placing additional pressure on the prices of goods and services. Businesses may consequently be forced to adjust their prices or absorb part of the additional cost, depending on their operating margins.
The latest increase comes as global crude oil prices remain elevated. Reports indicate that crude prices recently traded above $95 per barrel, increasing the cost of refined petroleum products.
