Cost of diesel, kerosene skyrocket nationwide

Kerosene QUEUE

The prices of Automated Gasoline Oil (AGO) or diesel and household Kerosene have skyrocketed across the country. Diesel dealers indicated 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,Daily Trust reports.

In Abuja, findings showed that a litre of diesel, which has already been deregulated, currently costs between N150 and N170 depending on the retail outlet. In Lagos, the cost of diesel currently hovers between N165 and N180 per litre, which is a slight margin from what it sold some months ago.

The price of kerosene also rose dramatically in Abuja as A.Y.M Shaffa, which is renowned for selling the product, has hiked the price this week from N155 to N165 per litre. Similarly, in Lagos the price of kerosene per litre in few of the stations, like NIPCO plc is pegged at N145 per litre.

The National Treasurer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Barrister Dibu Aderibigbe, blamed the hike on foreign exchange and the international oil price. He also added; “As far as DPK is concerned, NNPC is not distributing DPK through any other marketer but their service outlet, if there is a hike NNPC is purely responsible for that”.