NewStats: 3,261,290 , 8,173,625 topics. Date: Wednesday, 28 May 2025 at 06:53 PM 6v2a3v

Effective today, Saturday, August 12, diesel prices will hit N867 per litre in Lagos state and N875 in the Southwest region.

This is according to information seen by Nairametrics from industry sources familiar with the matter.

Why the increase
Diesel prices are skyrocketing despite being deregulated before the fuel subsidy removal because ex-depot prices are increasing. This week, sources told Nairametrics that ex-depot prices for diesel at the Apapa port now range between N790-N820 per litre.

Recent trajectory in ex-depot price change
Meanwhile, in an industry data sheet recently shared by the Major Oil Marketers Association of Nigeria (MOMAN), ex-depot prices for diesel at the Apapa port were;

July 24 – N624 per litre

July 25 – N638 per litre

July 27 – N647 per litre

July 28 – N653 per litre

July 31 – N693 per litre

August 2 – N649 per litre

August 3 – N714 per litre

Meanwhile, the same MOMAN industry sheet also highlighted diesel prices in the country during the same period as N650 per litre. The diesel price was calculated by MOMAN using the exchange rate which was 1 US dollar to N895 at the time.

Nigeria’s exchange rate is currently experiencing a high level of volatility. On Friday, Nairametrics reported that the exchange rate between the naira and dollar closed a tumultuous week quoting for as high as N955/$1 on the black market.

According to the Nairametrics report, Nigeria’s exchange rate opened the week at N895/$1 before it fell to N900/$1 on the 9th of August, the lowest in recorded history.

Meanwhile, the exchange rate has now depreciated by 8% month to date as demand continues to outstrip supply.

Since diesel is imported into Nigeria, alongside other petroleum products, which are purchased in dollars, the depreciation of the local currency against the dollar will negatively impact diesel prices, which has started to play out at the Apapa Hub

It is also important to note that diesel prices in other parts of the country have seen an increase since the second quarter of 2023.

The June 2023 diesel price watch report from the National Bureau of Statistics (NBS) showed that in June 2023, diesel in Taraba state cost N899.23 per litre, N875.67 per litre in Adamawa state and N873.33 per litre in Niger state.

Meanwhile, the average diesel price in the country was placed at N815.83 per litre, a 3.37% reduction from the N844.28 per litre recorded in May 2023, according to data from the NBS.

https://nairametrics.com/2023/08/12/diesel-price-to-hit-n867-per-liter-in-lagos-n875-in-sw/

Damnnn niggar
Isoright

Our economy is in disarray
We said it that tinubu is a disaster...yet they stepped into the polling unit with sentiment and tribalism...a dollar to naira is 950+...fuel price 600+ and they are still threatening to increase it...now diesel is 875+

If you are a true Nigerian and you can't allow an old sick man suffering parkinson disease with mental problem who is not aware of his environment to marry your daughter yet you forced the same person on over 200 million people after what we ed through for eight years in the hands of Buhari-tinubu Apc istration may you and your your children know no peace not only that may you and your children be harmed when revolution and cleasing start in Nigeria

The worse part of it now they will start to quote you and call you ipob not knowing that most of us are from South south
They will say we will wail for eight years ...they don't even know that most of us have enough money to survive we are just pitying them

Agbado master wan use our money fight Niger.

All I know is that it will favor me and my family, chikena

H

This increments will definitely favor me and my family! No jokes!

I deal on PMS(fuel) and diesel in 3 states across the country!!

Some wasted tribalistic Nigerians will learn lesson!! I'm actually praying this Ebola regime continues!

May thy see us through

Ebola why?

Renewed shege

Which kind nonsense be this na
Tinibu na the nenewed hope be this

Story.... If you reach the fuel station, tell them you are an Agbado er.... They will sell to you at 200 naira.... 875naira is priced for the Obidients

APC idiots, hope you guys will buy it with us?


Fools with coconut heads and empty brains.

It will favor me and my family..

When the foundation is rotten, the building will not be stable

J

We told them this before elections, that Tinubu has nothing to offer Nigerians aside looting our national Treasury, they said they'll teach Igbos a lesson.

I hope it's only Igbos that's suffering, if not then each and every single one of them are nothing but fools.

Good. And petrol price is gradually heading to 1,500naira only .

We have ed this stage.. what's next

nairalandkachy1:


https://nairametrics.com/2023/08/12/diesel-price-to-hit-n867-per-liter-in-lagos-n875-in-sw/

_This New High price will favor me and my family_

Someone get that druggie commander-in-thief out of Aso Rock before he grounds this country and suffocate everyone

Las las, we go all get sense.

A miracle Wonder president working round the clock 24/7.

Only the Igbos in Lagos will buy at that rate.

I heard one Agbadorian blaming Buhari as the worst president of Nigeria.. claiming Tinubu's istration is suffering because of Buhari misrule .

And i say , how can the devil blame the devil,
how can APc blame itself for packaging a dullard as a Messiah...

This was the game they played with Jonathan and the PDP in 2015..excuses upon excuses to buy time for their incompetency..

Tinubu has nothing to offer..
The urinating Machine Bobo Chicago drug dealer has absolutely nothing to offer Nigeria aside 8k palliative and invading Niger republic for war...

Hunger kill all Agbadorians

To those that helped in bringing this calamity and and Tinubulation upon us. This is for you

Let me go and dust my Agbado Card. I'm definitely buying for #87 Per Litre

May this #817 per litre favour me and my family..


We must teach the East a lesson, mbok!

Renewed what?? ?? ??

May God see us through

Agbadorians, how market

These prices are just for those ungrateful igbos

We would surely teach them a lesson in this country