The spike in the price of diesel has been uncontrolably high in January week 3 is different on its own and just like other weeks, we are here to brief you with the weekly diesel price update. This will help every diesel consumer – individuals and organizations mostly.
Just like last week Monday, this week is beginning with no change in price from that of last Friday. However, the week kicks off with no visible change in price but the impact of inflation is still obvious. Monday the 19th, the first business day, the market is trading at N283 price, as last week’s Friday 13th. Due to there being no change in diesel prices going by speculations of diesel fuel predictors, this week looks promising.
Ahead of the busy market, Monday is the first business day of the week and it runs through Friday. So far so good, the highest hike in the diesel price remains on Monday and Tuesday when we saw the week resuming at N283/litre. This occurrence is not always common, but this week has price dynamism in full. From the beginning of the week through Tuesday 20th, the price changed from N295 to N293 recording only a 0.67% drop. Not the usual but the price of Tuesday remained unchanged until after the 3rd business day, Wednesday 21st.
The OPEC activities are playing key roles in all these coupled with US Dollar to Naira battle in the exchange rate market.
Diesel Price Update Table
As usual, the table below shows the breakdown of the market flow but for only this week’s price of diesel. Just as we pointed out, the Diesel market started by maintaining the N295 price of last week’s Friday. No changes until Tuesday morning. The past few weeks have been exciting too but the consistency in diesel price movement is far more noticeable. This seems to be the norm now.
On Monday 19th there was no change from what we saw on Friday but with Naira fluctuation continuing before the business closes on Monday 19th, we observed a slight decrease on Tuesday from N295 to N293.
The price decrease crippled into Wednesday before witnessing a minute change on Thursday at noon. The little N1 decrease continues to show a 0.34% decrease through Thursday and Friday. Until business closing on Friday, the end-users continued to enjoy the daily offload of the N1/litre.
Fortunately, the market price for this week did close higher or with the same figure as it was when business resumed on Monday. But it was able to close less at N291/litre showing more love and bestowing more hope to end-users. Hence we only witness the fall in price which was at +0.34% change as seen in the table.
It’s important to note that we will not relent in comparing the current weekly prices with the immediate past change in diesel prices for July week 2 – 2021.
We will continually update this every week whether there is or no change in the weekly price of diesel.
| Date | Diesel Price | % Change |
| Monday 16th | no change | |
| Tuesday 17th | no change | |
| Wednesday 18th | -0.7% | |
| Thursday 19th | no change | |
| Friday 20th | no change |
Summing up what happened in this week 4 of January 2022 price
From the pickup of the week, It is imperative that the data we provide here helps you forecast and plan towards the next refuelling of your power plants, especially for this weekend.
So, we say, relax and feel free to always check our previous and subsequent articles in other to stay ahead of all the latest
Don’t forget, you can always make your request for a high-quality diesel supply here.