This week is so different with its own uniqueness and just like other weeks, we are back with our weekly diesel price update.
Just like last week Monday, this week is beginning with no change in price from that of last Friday. Again, the week is off with no change in price but the impact of inflation is still obvious. The first business day is yet another Monday the 19th with an N295 price, as last week’s Friday 16th.
Due to there being no change in diesel prices going by speculations of the industry’s bookmakers, 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 Monday’s own where we saw the week resuming at N295/litre. This occurrence is not always common, but this week has price dynamism in full.
From business resumption on Monday through Tuesday 20th, the price changed from N295 to N293 recording a 0.67% drop. Not the usual trend though but Tuesday’s price remained unchanged until after the 3rd business day, Wednesday 21st.
The OPEC activities continue to play key roles in all these sagas. This is also coupled with The US Dollar to Naira battle in the forex 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 with what happened on Friday 16th 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 difference continues to show a 0.34% decrease through Thursday and Friday. Until business closing hour 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 than what it was on business resumption 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 making these comparisons. Here is comparing the current week’s 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 19th | no change | |
| Tuesday 20th | -0.67 | |
| Wednesday 21st | no change | |
| Thursday 22nd | -0.34 | |
| Friday 23rd | -0.34 |
Summing Up What Happened in This Week’s Price
It is imperative that the data we provide here helps you to plan your next refuelling, especially for this weekend.
So, relax, feel free, and always check our previous and subsequent articles to keep ahead with all the latest.
Don’t forget, you can always make your request for a high-quality diesel supply here.