BREAKING: Diesel Price Hits ₦1300 Per Litre—-According to daily trust report, Manufacturers have expressed concerns as the price of diesel has risen to N1,275 per liter in Lagos and above N1,300 outside the state.
The product is selling for N1,270 per liter in Kano State and above that outside the metropolis.
This implies a 26 percent increase in the price of the product in less than one week. It had sold for N1,030 on October 23.
As of Thursday, many filling stations in Lagos adjusted their price to between N1,250 and N1,270.
Manufacturers, who said they are still battling with the forex crisis, high interratesrate, and poor power supply, fear that the hike in the price of diesel might compound their challenges as diesel is used to power their factories.
The situation is amidst the rising inflation which peaked at 26.7 percent in October with many families and households facing a worsening cost of living crisis.