The pump price of Automotive Gas Oil, AGO, popularly known as diesel, has surged above N2,000 per litre in Nigeria.
A market survey on Friday showed that retail prices jumped to between N2,000 and N2,020 per litre at AA Rano, Empire Energy, Ranoil and other filling stations in Abuja and environs. This was up from N1,700 to N1,800 previously.
The increase represents a rise of between N220 and N300 per litre, depending on location and filling station.
The hike followed an upward review by depot owners who raised prices to N1,900 per litre. Depots including Ranoil Delta, Nigerian Independent Petroleum Company, NIPCO Warri, Prudent Oghara and Zamson have implemented the new prices, according to http://Petroleumprice.ng.
Dangote Refinery also increased its gantry diesel price by N100 to N1,850 per litre as crude oil prices topped $95 per barrel.
However, Brent crude and West Texas Intermediate, WTI, had eased slightly to $94.74 and $90.34 per barrel respectively as of Friday.
Industry operators attributed the surge to rising crude costs and depot adjustments.
