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Nairaland Forum / Nairaland / General / Business / Price Of Diesel Drops By Over 30% In Four Months (15817 Views)
Price Of Garri Drops By 60% In Enugu / Cooking Gas Price Drops By 30% (2) (3) (4)
Price Of Diesel Drops By Over 30% In Four Months by Truth234(m): 7:01am On Jun 12, 2017 |
Following the fluctuations in forex and international crude oil prices, the ex-depot price of diesel has dropped by over 30 per cent between February and June 2017. As a deregulated product, the price of diesel is controlled by the market forces of demand and supply, unlike petrol, which has a price cap. The international market price of crude above $53 in February, the prices of refined products were also high as the ex-depot price of diesel was between N225 per litre and N235. The situation, it was gathered, was worsened by the high exchange rate at the period, which also impacted on the landing cost of products. For instance, during the first week of February, the depots in Lagos were selling diesel above N235 per litre, while the pump price at filling stations were as high as N260 – N280 per litre. While some were selling at N231, N230, 235, 227, 225, and N226, others were selling above N235 at the depots. However, at the beginning of June, the depots were selling between N152 and N154 per litre. According to market survey, the marketers were selling diesel at N152, 153 and N154, while the pump price was below N200 per litre at the beginning of June. The price of diesel dropped further at the weekend with depots in Lagos selling at N155, 149, 147, 145, 144, and 144.50. A marketer, who spoke on the situation, said the development was cyclic as a result of changing prices at the international and forex fluctuations. “The price of crude and exchange rate in February were on the high side and they impacted not only on the price of diesel but all other products. Nigerians did not feel the impact on petrol because of the price cap. With the drop in price of crude below $50 per barrel, the country is not seeing the benefits of liberalisation on diesel,” he said. Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Mr. Akin Akinfemiwa had told downstream operators in Lagos recently that the country was reaping the benefits of diesel and called on the federal government to remove the cap on the price of petrol. “Without that, we will not realise the potential of this $5 billion revenue in the sector,” Akinfemiwa said. The Chairman of Depots and Petroleum Products Marketers Association (DAPPMA), Mr. Dapo Abiodun, had also made similar call, saying that it was not by choice that the marketers allowed NNPC to currently import 95 per cent of petrol. Abiodun, who is also the Chief Executive Officer of Heyden Petroleum Limited, said in addition to paying the marketers’ outstanding $2 billion claims arising from the old subsidy regime, the permanent solution was to remove the cap on the pump price of petrol and fully liberalise the downstream sector. http://investorsking.com/price-of-diesel-drops-by-over-30-in-four-months/ 1 Like |
Re: Price Of Diesel Drops By Over 30% In Four Months by torres89: 7:12am On Jun 12, 2017 |
I was beginning to think no one will notice this yet some people will still come and insult buhari 34 Likes 3 Shares |
Re: Price Of Diesel Drops By Over 30% In Four Months by lonelydora: 7:56am On Jun 12, 2017 |
NNPC stations still sell N185. Others sell 190. Well it's a little relieve from 245 shaa. Buhari is working in absentia. ![]() 5 Likes 1 Share |
Re: Price Of Diesel Drops By Over 30% In Four Months by Goldenheart(m): 7:56am On Jun 12, 2017 |
![]() When petrol hits #50 3 Likes |
Re: Price Of Diesel Drops By Over 30% In Four Months by NwaAmaikpe: 7:57am On Jun 12, 2017 |
![]() Nonsense!!! When will the price of Rice come down. I have never cooked Diesel to eat before. 33 Likes 2 Shares |
Re: Price Of Diesel Drops By Over 30% In Four Months by Kizyte(m): 7:57am On Jun 12, 2017 |
OK, I'm still waiting for price of food to drop ![]() 2 Likes |
Re: Price Of Diesel Drops By Over 30% In Four Months by k4kings(m): 7:57am On Jun 12, 2017 |
That's a good one.. . At least something has been achieved after 2yrs.. . Let it be permanent oooo 3 Likes |
Re: Price Of Diesel Drops By Over 30% In Four Months by Amosjaj(m): 7:57am On Jun 12, 2017 |
Apc keep playing us like Playstation 3.#Apc is a fraud 5 Likes |
Re: Price Of Diesel Drops By Over 30% In Four Months by smartty68(m): 7:58am On Jun 12, 2017 |
That's news jare. Go to fillings stations and see for yourselves. This government only taking advantages on papers. Mtchewww 4 Likes |
Re: Price Of Diesel Drops By Over 30% In Four Months by Hillarie(m): 7:58am On Jun 12, 2017 |
Should we rejoice? They should also reduce the price at which we watch Super Eagles matches... 3 Likes |
Re: Price Of Diesel Drops By Over 30% In Four Months by talk2rotman(m): 7:58am On Jun 12, 2017 |
development.
thats what we want.
more of it in jesus name.....garri, rice and beans next 3 Likes |
Re: Price Of Diesel Drops By Over 30% In Four Months by Amosjaj(m): 7:58am On Jun 12, 2017 |
Apc is a big fraud, just playing us like a Xbox. 3 Likes |
Re: Price Of Diesel Drops By Over 30% In Four Months by Zi: 7:58am On Jun 12, 2017 |
Nigerians, where is our president? Where is President Muhammed Buhari? ![]() 8 Likes |
Re: Price Of Diesel Drops By Over 30% In Four Months by lonelydora: 7:59am On Jun 12, 2017 |
NwaAmaikpe: This man sef. Lol 7 Likes |
Re: Price Of Diesel Drops By Over 30% In Four Months by Harwoyeez(m): 7:59am On Jun 12, 2017 |
Good move....praying same happen in petrol too |
Re: Price Of Diesel Drops By Over 30% In Four Months by Kizyte(m): 7:59am On Jun 12, 2017 |
k4kings:Did you say something has been achieved after two years? The price neva come down reach as e be before na. I used to buy Diesel N145 before Baba take over seat. 4 Likes 1 Share |
Re: Price Of Diesel Drops By Over 30% In Four Months by Justpassingby2(m): 7:59am On Jun 12, 2017 |
Make I book space. I dey come |
Re: Price Of Diesel Drops By Over 30% In Four Months by maxiuc(m): 7:59am On Jun 12, 2017 |
I buy 180 per liter here in abuja Infact let it come down more 1 Like |
Re: Price Of Diesel Drops By Over 30% In Four Months by Nobody: 7:59am On Jun 12, 2017 |
Great you are losing money by not MAKING MONEY.Download MINI IMPORTATION GUIDE for free now.Learn how you can import from Chine, USA for cheap and ship your goods to Nigeria easily and stres freee!Check my signature.Δ |
Re: Price Of Diesel Drops By Over 30% In Four Months by WebSurfer(m): 8:00am On Jun 12, 2017 |
I buy at 180 1 Like |
Re: Price Of Diesel Drops By Over 30% In Four Months by Nobody: 8:00am On Jun 12, 2017 |
NwaAmaikpe: Abi o, that's the most important ![]() BTW, check my signature on what to do if you want to market your products to your customers cheaply. 4 Likes |
Re: Price Of Diesel Drops By Over 30% In Four Months by johnjay4u2u(m): 8:01am On Jun 12, 2017 |
Hmmmmm first good news |
Re: Price Of Diesel Drops By Over 30% In Four Months by helphelp: 8:02am On Jun 12, 2017 |
Why petrol no drop... Most of their eye and investment dey petrol, so they'll rather force an increase... Idiotas 1 Like |
Re: Price Of Diesel Drops By Over 30% In Four Months by oshe11: 8:03am On Jun 12, 2017 |
Basic tinx that is needed n a necessity to the Masses no go drop.... na DIESEL? TAH........ ABEG DIS ONE WEAK ME, SHIFT SMALL LEMME FAINT.... |
Re: Price Of Diesel Drops By Over 30% In Four Months by Ijaya123: 8:03am On Jun 12, 2017 |
1 Like |
Re: Price Of Diesel Drops By Over 30% In Four Months by Abbeyme: 8:04am On Jun 12, 2017 |
Good news |
Re: Price Of Diesel Drops By Over 30% In Four Months by Dottore: 8:06am On Jun 12, 2017 |
Ok |
Re: Price Of Diesel Drops By Over 30% In Four Months by Akinaukwa: 8:06am On Jun 12, 2017 |
How many people or automobiles are using diesel? Let something be done to the petrol pump price cos everything about it affects the common man. |
Re: Price Of Diesel Drops By Over 30% In Four Months by ikorodureporta: 8:07am On Jun 12, 2017 |
Its even cheaper than kero. Dis pipple no just like the poor |
Re: Price Of Diesel Drops By Over 30% In Four Months by oluseyiforjesus(m): 8:15am On Jun 12, 2017 |
Good news but it would hv bin a great news if it's petrol |
Re: Price Of Diesel Drops By Over 30% In Four Months by Nobody: 8:15am On Jun 12, 2017 |
I want to go into diesel and kerosene supply business in the future perhaps....I.e, supplying as high as 33,000 liters. which one should I start with first? Like which of the two sells more? A.G.O or DPK? |
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