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’s 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 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.
Depot 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 is no change from what happened 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 closed 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.
Knowing how important these data are to you, and everyone, we will not relent in providing them. We will also not slack in comparing data of the prices on the week in review with the previous ones. See the immediate past week’s date here >> 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.
Summing Up What Happened in This Week’s Price
Pickup of the week; the data we provide here is to help you forecast your next refuelling, especially this weekend.
So, we say, relax, feel free and enjoy the data consumption. Don’t forget to always check our previous and subsequent articles to make you stay ahead of all the latest.
Don’t forget, you can always make your request for a high-quality diesel supply here.