Diesel price rises to N280

29 Jun Diesel price rises to N280

The price of Automotive Gas Oil, also known as diesel, has risen to N280 a litre. The increase, according to marketers, is fueled by the increase in global oil prices and naira devaluation. Diesel is mostly used by businesses to power their generators amid lack of reliable power supply from the national grid.

The global oil benchmark, Brent crude, which averaged $62.28 per barrel in February, stood at over $74.00 per barrel this morning

On Monday that the price of the product, which is not regulated by the government, ranged from N270 to N280 per litre in several filling stations in Lagos.