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Thursday, 9 June 2016

Nigeria: Diesel And Kerosene Prices Skyrocket Nationwide



The prices of Automated Gasoline Oil (AGO) or diesel and household Kerosene have skyrocketed across the country, Daily Trust Newspaper revealed.

Diesel dealers told DailyTrust 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.

In Abuja, findings showed that a litre of diesel, which has already being deregulated, currently costs between N150 and N170 depending on the retail outlet.
The price of kerosene also rose dramatically as A.Y.M Shaffa, which is renowned for selling the product, has hiked the price this week from N155 to N165 per litre.

The National Treasurer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Barrister Dibu Aderibigbe, blamed the hike on two factors.

“It has to do with foreign exchange and the international oil price. The refined product is getting higher since crude oil is going up.

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