Diesel Price Falls Below N1,000 Per Litres
The deport prices of Automated Gas Oil (AGO), also known as Diesel, have dropped to below N1,000 per litre, marking the lowest levels seen in more than two years.
Currently, prices range between N995 and N999 at different depots across Nigeria.
The new average price sits at N950 per litre at key depots, reflecting a substantial decrease from the 2023 peak of N1,400 per litre.
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The recent sharp decline in diesel prices can be largely attributed to an excess supply of crude oil in the global market. Key oil-producing countries, such as the United States, Saudi Arabia, and Russia, have substantially increased their production levels, creating an oversupply that has driven down the prices of refined products, including diesel.
Today’s depot-level diesel prices are as follows:
IBETO: N 995 (-0.3)
Emadeb: N998 (−0.1%)
Wosbab: N998 (−0.2%)
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