Prices Of Diesel, Kerosene Shoot Up Nationwide


Just as Nigerians are still lamenting the increase in price of cooking gas, the prices of diesel, a.k.a Automated Gasoline Oil (AGO) and household kerosene have also been dramatically increased nationwide.

Sources say that scarcity of the product may be imminent because marketers were now paying more to source the US dollar at the black market to import the product.

National Treasurer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Barrister Dibu Aderibigbe, has blamed the hike on two factors. Firstly he says its foreign exchange and secondly, the international oil price. The refined product is getting higher since crude oil is going up.

See Also: “LPG Produced Locally, Not Imported” – Marketers Question Price Hike

According to Barrister Aderibigbe, marketers have to look for forex by themselves and the cost of dollar is almost N370 now. He says NNPC is not distributing DPK (Dual Purpose Kerosene) through any other marketer but their service outlet, and therefore the NNPC is solely responsible for any hike in DPK.

diesel, kerosene prices hiked 2

IPMAN’s Operation Controller, Mr. Mike Osatuyi, has attributed the development to the deregulation of the two products by the federal government.

He explained that the development means that prices of the product would fluctuate from time to time due to variables. Daily Trust reports that checks across filling stations nationwide, confirm the hike in the products.

In Abuja, a litre of diesel, which has already being deregulated, currently costs between N150 and N170 depending on the retail outlet. The price of kerosene has also shot up this week from N155 to N165 per litre.

In Lagos, the cost of diesel currently hovers between N165 and N180 per litre, a slight margin from what it sold some months ago. While the price of kerosene per litre in few of the Lagos stations, is pegged at N145 per litre.

Similarly, prices of diesel and kerosene in Bauchi State have gone up within the last few days. Most of the filling stations located within Bauchi metropolis, sell diesel at N175 while kerosene is sold at N165 per litre.

Also Read: FG Set To Employ 500,000 Unemployed Youths

Also filling stations located in Port Harcourt and other cities like Oyigbo and Eleme indicated that the price of diesel sold has risen to N170.

In Enugu, the price of diesel has suddenly risen to N175 from N130 per litre, and many other stations in the state are reportedly yet to receive supply of the product.