Diesel Price Rises To N265 Per Litre

According to insights gathered from Punch and LindaIKeji's blog, Fuel marketers in the country has increased the price of Automotive Gas Oil, also popularly known as 'Diesel', to N265 per litre 

Diesel price initially rose to N250 per litre around February this year, with businesses taking a beating on the back of rising energy costs. 

Confirming the development, National Operations Controller of the Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi, stressed that the price of Diesel and Kerosene had been increased due to the significant rise in Crude Oil prices. 

“Marketers are importing diesel because it has been deregulated and the pump price is based on the current crude oil prices. We get foreign exchange from the black market to import the product," he said.