P
ProfRem
Guest
Price of diesel has dropped significantly following the fluctuations in forex and international crude oil prices.
According to Thisday report, the ex-depot price of diesel dropped by over 30 per cent between February and June 2017.
The depots in Lagos that were selling diesel above N235 per litre, while the pump price at filling stations were as high as N260 – N280 per litre around February 2017 now sells below N200.
A the beginning of June, Thisday reported that the depots were selling between N152 and N154 per litre.
Market survey conducted by Thisday shows that the marketers were selling diesel at N152, 153 and N154, while the pump price was below N200 per litre at the beginning of June.
The price of diesel dropped further at the weekend with depots in Lagos selling at N155, 149, 147, 145, 144, and 144.50.
A marketer, who spoke on the situation, said the development was cyclic as a result of changing prices at the international and forex fluctuations.
Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Mr. Akin Akinfemiwa had told downstream operators in Lagos recently that the country was reaping the benefits of diesel and called on the federal government to remove the cap on the price of petrol.
“Without that, we will not realise the potential of this $5 billion revenue in the sector,” Akinfemiwa said.
- THISDAY
According to Thisday report, the ex-depot price of diesel dropped by over 30 per cent between February and June 2017.
The depots in Lagos that were selling diesel above N235 per litre, while the pump price at filling stations were as high as N260 – N280 per litre around February 2017 now sells below N200.
A the beginning of June, Thisday reported that the depots were selling between N152 and N154 per litre.
Market survey conducted by Thisday shows that the marketers were selling diesel at N152, 153 and N154, while the pump price was below N200 per litre at the beginning of June.
The price of diesel dropped further at the weekend with depots in Lagos selling at N155, 149, 147, 145, 144, and 144.50.
A marketer, who spoke on the situation, said the development was cyclic as a result of changing prices at the international and forex fluctuations.
Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Mr. Akin Akinfemiwa had told downstream operators in Lagos recently that the country was reaping the benefits of diesel and called on the federal government to remove the cap on the price of petrol.
“Without that, we will not realise the potential of this $5 billion revenue in the sector,” Akinfemiwa said.
- THISDAY