Diesel Price Hits N700/litre In Osun, Kwara

As the fuel scarcity which hit the country over six weeks ago gradually eases, the high cost of  automotive gas oil (AGO), popularly known as diesel, is now becoming a source of concern to many manufacturers and businesses across the country.

A survey conducted revealed that the price of diesel has increased by more than 60 per cent in most filling stations across the country to as much as N700, up from N450 barely one week ago, following the Russian invasion of Ukraine, which is putting pressure on the price crude oil in the international market, resulting in increase in the landing cost of the commodity.

Diesel is mostly used by businesses, especially manufacturers to power their generators amid a lack of reliable power supply from the national grid. Haulage vehicles transporting goods and people across the country also use diesel.

Findings showed that diesel sold the highest in Osun and Kwara states at N700 per litre.

In Lagos and Abuja, the commodity was sold for N600 and N650 by both major and independent marketers respectively.

Businesses Groan As Diesel Price Hits N650 At Depot