Price of diesel rises further by 18.5% to N343/litre



By Elizabeth Adegbesan

There are indications that price of The average retail price of Automotive Gas Oil (diesel) is on steady rise reaching N343 per litre as at Wednesday, representing 18.5 per cent rise when compared with the National Bureau of Statistics (NBS) average figure of N289.37 per litre as at December 31, 2021.

An NBS report also indicated that the December price was higher than the previous month, November, 2021.

However, the price of Premium Motor Spirit (petrol) stood at N162 per litre, representing 2.27 per cent when compared to the NBS figure of N165.77 per litre in December 2021.

In its Diesel Price Watch for December 2021, the NBS said: “The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 28.97 per cent on a Year-on-Year (YoY) basis from a lower cost of N224.37 per litre recorded in the corresponding month of last year to a higher cost of N289.37 per litre in December 2021.

“On a month-on-month (MoM)…

Source: Vanguard Newspaper