It is important to note that the diesel market was quite stable throughout the weekend. The market resumed this week, Monday 21st, with the same N280 price, as last week’s Friday 25th. So, there was no practical change in diesel price as forecasted by some of the local marketers.
Though the week began with Monday 21st June as the first business day and runs through to Friday, June 25, 2021, but so many changes were recorded. So far, the highest mark recorded is as high as N285/litre.
Diesel Price Update Table
The table below provides the breakdown but with little insight into the price flow for the entire week. You can see that in the fourth week of June 2021, the diesel price started off with N280/litre but later increase before the close of business on that same day. Because of that, the market was extremely fragile and unstable through out the week.
On Monday 21st there was absolutely no change with what we saw on Friday but with Naira slipping down over naira before the close of business on Monday, we observed a slight increase on Tuesday from N280 to N285.
The price increase continued until Thursday 24th with a -1.72% change which shows a drop in the price by N5 from N290 to N285.
However, the market price for the week did not close with the same figure of Thursday by the close of business on Friday the 25th. Hence a slight N2 uplift in price which is a +0.70% change as seen in the table.
The OPEC activities are playing key roles in all these coupled with US Dollar to Naira battle in the exchange rate market.
Note that we will compare the price of diesel for this week with the change in diesel price for June week 3 – 2021. We will always do this every week as long as there is a little, slight or significant change in price.
| Date | Diesel Price | % Change |
| Monday 21st | no change | |
| Tuesday 22nd | +1.79 | |
| Wednesday 23rd | +1.75 | |
| Thursday 24th | -1.72 | |
| Friday 25th | +0.70 |
Summing Up What Happned in This Week’s Price Update
Generally, we are committed to doing this every week. We believe that these figures and data are valuable to you as you forecast and plan towards refuelling your power plants this weekend.
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
So, do not forget, you can always make your request for a high-quality diesel supply here.