Fuel Marketers Raise Diesel Price To N265 Per Litre

Some fuel marketers have increased the price of Automotive Gas Oil, also known as diesel, to N265 per litre.

Diesel price

The price of diesel first rose to a new high of N250 per litre on February 24, with businesses taking a beating on the back of rising energy costs.

According to Punch, some filling stations in Lagos State, as at Sunday March 21, were selling the product for between N248 and N265 per litre while some put the price at between N220 and N245 per litre.

Commenting on the development, the National Operations Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, said the prices of diesel and kerosene had been increased because of the 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.

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