The retail price of automotive gas oil, also known as diesel, has surged in some filling stations in Lagos and Abuja.
With inflation reported at 25 percent, the price hike would inflict more pressure on household income and increase the cost of operation of businesses.
According to reports yesterday, checks showed that a litre of diesel crossed the N1, 000 mark in some filling stations in Abuja, Ogun, Ondo, and Lagos States. At Shema filling station in Kado, Abuja, the product was reportedly sold for N1, 100 per litre at the time of visit.
In Lagos, diesel was also sold for N1, 100; but, in some filling stations, the product retailed below N1, 000 a litre. An attendant blamed the increase on scarcity of the product, adding that the retail outlet was out of diesel for two months, but only recently resumed sales.
The price was the same at the Mobil filling station, located along Akure Road, Ifo, in Ogun State. An official at the station told newsmen that the price of the commodity was increased due to an upward adjustment in the ex-depot price.
Speaking with newsmen, president of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, said the spike in the price of the commodity was largely impacted by market forces.
According to him, the ex-depot price was N975 a litre, as at Tuesday night. “That is not the final price. If there is a differential, obviously, it is going to affect the end users as well as the final price and that is what will make it increase”, he stated.
Recall that on Tuesday, the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) expressed concern over the surge in the price of diesel.
