Dielsel price surges to N290/litre as crude rises to $74.27
Written by crest887fm on July 9, 2021
The price of a litre of Automotive Gas Oil, also known as diesel, has maintained an upward trend as it rose to a record high of N290 this week.
It was reported last week that the price of a litre of diesel had increased to N280, buoyed by the recent increase in global oil prices and naira devaluation.
In February, when the global oil benchmark, Brent crude, averaged $62.28 per barrel, the price of diesel, which is not regulated by the government, ranged from N220 to N250 per litre in Lagos.
Brent crude, which has been trading above $70 per barrel since the start of June, increased to $74.27 per barrel as of 8:06pm Nigerian time on Thursday.