Average Price of Diesel Again Shot up to N978 per Liter Nationwide

The average price of diesel again shot up to N978 per liter Nationwide on Tuesday, according to data sourced from Hydrocarbon Information Service Limited.

According to the data, the average price of the fuel was N974 per liter last November 23 and N993 on November 20.

Last October, the average price was N890 per liter.

On the Liquefied Petroleum Gas (LPG), popularly called Cooking Gas, 12.5 kilograms (KG) is selling for N12,500 in the North West, N10,650 in Lagos and South West, as well as N11,375 in Abuja and North central states.

The data also put the average price of petrol at N607 per liter and kerosene at N905 per liter.

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The minister who noted that Nigeria is abundantly endowed with gas reserves, said the situation where some of the multinational firms were more concerned with gas exports without dedicating huge volumes to the domestic market was unacceptable and should be discouraged.

He said, “With the exponential increase in the price of LPG, there is the need for the Federal Government to intervene and I am representing this at this moment.

We acknowledge that some producers are exporting while we are faced with the challenges of importation.

Public interest is the overriding interest all over the world for the government, and the demand for LPG will increase as we approach December…you have a public service obligation to collaborate with the government to ensure the security of gas supply, we need to therefore bend backward and find solutions, to ensure that we have sufficient supply and stability in-country and that Nigerians have gas.

The minister thereafter constituted a committee with a mandate to come up with recommendations on how to boost supplies and crash LPG prices within a week.