This particular week is so peculiar on its own and just like other weeks, we are here to hint you with our diesel price update.
Unlike most other weeks, the prominent diesel market zoomed off with a notable change in price. The week was off on Monday 12th as the first business day, with an N295 price, as last week’s Friday 2nd. Hence, there was no viable change in diesel price as speculated by some of the bookmakers in the industry.
As usual, this week started with Monday 12th as the first business day through to Friday, July 16th, 2021 with visible but little changes. So far we see the lowest price for this week at N290/litre. The price only nosedived on Tuesday but goes back to N295/litre on Wednesday 14th. Being the third day of the week, you can see that the market maintained the same price. Though it moved through the rest of the week. Unusually, this week shows just a little one-up-one-down change in diesel price update but it profits for end-users more. And all are at N5 per litre differences.
As always, OPEC activities keep playing a major role in diesel pricing in Nigeria. The role of the forex market, USD to NGN exchange is another contributing factor.
Diesel Price Update Table
The table below has the breakdown of this week’s market flow to show you. The price of diesel for this week was quite steady and unconventional like other weeks’. Just as cited above, this week 2 of July 2021, the Diesel market started trading at N295 per litre, the same as last week’s Friday. No obvious change until Thursday morning. For over two weeks now the diesel price hikes have been consistent, and this is now a norm in the Nigerian market.
On the 12th being Monday, the market experience no movement from what we have last Friday but with Naira woes continue, you can see a slight decrease on Tuesday from N295 to N290.
The price decrease did not last for more than 24hours before hiking back to N295 on Wednesday 14th. Until Wednesday 14th the -1.72% change between Monday and Tuesday shows a drop in the price by N5 from N295 to N290.
Note, the market price for this week did close with the same figure as that of Monday 12th, Wednesday 14th, and Thursday 15th 2021. That is why there is no change in Diesel price which is a +0.00% change as seen in the table.
Note that we will compare the price of diesel for this week with the change in diesel price for July Week 1 – 2021.
As always, we will keep updating this every week whether there is or no change in the weekly price of diesel.
| Date | Diesel Price | % Change |
| Monday 12th | no change | |
| Tuesday 13th | -1.72 | |
| Wednesday 14th | +1.69 | |
| Thursday 15th | no change | |
| Friday 16th | no change |
Counting Down on This Week’s Update
We can say that it is acceptable that the data we provide here are helpful to all the users of this portal in forecasting and planning towards the next refuelling of their power plants, especially for this weekend. So, feel free to keep checking our previous and future blog posts in other to stay ahead of all the latest
Remember, you can always make your request for a high-quality diesel supply here.