Just like the previous weeks, we are here again to bring to you the diesel price update for this week.
Throughout the weekend, the diesel market was a bit mild with no notable change in price. The week began with Monday 5th 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.
The week which began with Monday 5th as the first business day runs through to Friday, July 9th, 2021. So far so good, the highest hike in the diesel price we are able to see this week is N295/litre. This occurred from the beginning of the week through Wednesday 7th until Thursday morning. Being the fourth business day of the week, we saw the diesel consumers leapt in joy as the price dropped by N5.
The OPEC activities played a key role in all these coupled with US Dollar to Naira battle in the exchange rate market.
Diesel Price Update Table
The table below will show you the breakdown of the market flow of the price of diesel for this week. Just as we hinted above, this first week of July 2021, the Diesel market kicked off by maintaining the N295 price of last week’s Friday. No changes until Thursday morning. For over two weeks of consistent diesel price hikes, this seems to be the first noticeable decrease in the price.
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 decrease crippled into the close for the business week. until Thursday 24th with a -1.72% change which shows a drop in the price by N5 from N290 to N285.
Note, the market price for this week did close with the same figure as that of Thursday 8th July 2021. Hence no uplift in 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 June week 5 – 2021. We will keep doing this every week whether there is or no change in the weekly price of diesel.
| Date | Diesel Price | % Change |
| Monday 5th | no change | |
| Tuesday 6th | no change | |
| Wednesday 7th | no change | |
| Thursday 8th | -1.69 | |
| Friday 9th | no change |
Sumarizing This Week’s Update
It is convincing 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 always check our previous and subsequent articles in other to stay ahead of all the latest
Remember, you can always make your request for a high-quality diesel supply here.