Diesel now sells for N200 per litre
NaijaRock
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Posted by Felix Okoli on Tuesday July 5, 2016 at 15:47:35:
I was shocked today when I went to buy some litres of diesel at a filing station at Aguda Surulere area of Lagos state and noticed that they were now selling it for N200 per litre. It was a rude shock! I actually bought it for N185 per litre yesterday and today it has skyrocketed by N15 per litre.What sort of country do we live in that the prices of things keep going up without coming down? Is this the change that many Nigerians voted for?I remember buying diesel for N120 per litre in January 2016 and for N125 by February 2016. By March, I bought it at N130 per litre and for April through the middle of May, it was sold at N135 per litre. Towards the end of May, the Federal government eased out on fuel price regulation by pegging a ceiling price of N145 on petrol which was initially subsidized and sold at N85 per litre. That action probably encouraged the price of diesel to rise gradually from N140 to N180 between May and early June of 2016.By early July 2016, It rose from N180 to N185 within the first few days and by the 5th of June, the price suddenly jumped to N200 per litre.It's not easy using a gasoline generator in Nigeria to generate electricity given the rate at which the price of diesel keeps rising. So, for the month of June 2016 alone, the price of diesel has risen from about N185 to N200 per litre and one keeps wondering why the price of diesel keeps going up in Nigeria.One problem I've noticed is that diesel is really scarce at several filling stations I've checked and it's the same thing with kerosene for which both of their prices have gone up. I recall the gesture made by the Forte Oil company in selling kerosene nicknamed Buhari Kerosene for N50 per litre. Now, Kerosene is sold for about N83 per litre and diesel for N200 per litre.Why is the price of diesel and kerosene going higher unlike the price of fuel? One possible reason could be that many oil importers are focusing their imports on petrol rather than on diesel or kerosene and the relative scarcity is pushing up the prices. Another possible reason could be that they are just trying to make the most profit since the government has not regulated the prices of diesel or kerosene.Many businesses and families in Nigeria rely on diesel to power their generators and it won't be a good thing if the prices keep going up without anything said by the government to alleviate their suffering.
I was shocked today when I went to buy some litres of diesel at a filing station at Aguda Surulere area of Lagos state and noticed that they were now selling it for N200 per litre. It was a rude shock! I actually bought it for N185 per litre yesterday and today it has skyrocketed by N15 per litre.What sort of country do we live in that the prices of things keep going up without coming down? Is this the change that many Nigerians voted for?I remember buying diesel for N120 per litre in January 2016 and for N125 by February 2016. By March, I bought it at N130 per litre and for April through the middle of May, it was sold at N135 per litre. Towards the end of May, the Federal government eased out on fuel price regulation by pegging a ceiling price of N145 on petrol which was initially subsidized and sold at N85 per litre. That action probably encouraged the price of diesel to rise gradually from N140 to N180 between May and early June of 2016.By early July 2016, It rose from N180 to N185 within the first few days and by the 5th of June, the price suddenly jumped to N200 per litre.It's not easy using a gasoline generator in Nigeria to generate electricity given the rate at which the price of diesel keeps rising. So, for the month of June 2016 alone, the price of diesel has risen from about N185 to N200 per litre and one keeps wondering why the price of diesel keeps going up in Nigeria.One problem I've noticed is that diesel is really scarce at several filling stations I've checked and it's the same thing with kerosene for which both of their prices have gone up. I recall the gesture made by the Forte Oil company in selling kerosene nicknamed Buhari Kerosene for N50 per litre. Now, Kerosene is sold for about N83 per litre and diesel for N200 per litre.Why is the price of diesel and kerosene going higher unlike the price of fuel? One possible reason could be that many oil importers are focusing their imports on petrol rather than on diesel or kerosene and the relative scarcity is pushing up the prices. Another possible reason could be that they are just trying to make the most profit since the government has not regulated the prices of diesel or kerosene.Many businesses and families in Nigeria rely on diesel to power their generators and it won't be a good thing if the prices keep going up without anything said by the government to alleviate their suffering.