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The leadership of the Manufacturers Association of Nigeria (MAN) has kicked against the observed hike in the price of the deregulated Automotive Gas Oil, also known as diesel, to a new high of N265 per litre.
However, Business Hilights gathered that marketers are reacting to the recent rise in global oil prices to increase the price of the product largely used by industries.
Some filling stations in Lagos State were selling the product for between N248 and N265 per litre while some put the price at between N220 and N245 per litre. Mobil filling station along the Lagos-Ibadan Expressway and Nipco at Fadeyi axis of Ikorodu Road increased the pump price of diesel to N265 per litre; while Forte Oil at Onipanu sold it for N255 per litre. The National Bureau of Statistics, in its latest AGO price watch report, said the average price paid by consumers for diesel increased by 1.29 per cent to N227.76 in February from to N224.86 in January. “States with the highest average price of diesel were Zamfara (N268.78), Adamawa (N263.33) and Kebbi (N257.50). States with the lowest average price of diesel were Osun (N206.50), Ekiti (N207.86) and Plateau (N208.57),” it said.