Diesel: We Can’t Sell At New Price Because Of Old Stock, Says IPMAN

Automotive gas oil (AGO), also known as diesel, sold for as high as N1,500 at fuel stations in Lagos and Abuja on Saturday.

TheCable observed that Mobil and TotalEnergies fuel stations in Festac Town, sold for N1,300 per litre and N1,500 per litre, respectively.

In Abuja, the price of the product was N1,450 per liter at Eterna, Banex, and N1,500 a liter at Emadeb, Kado.

The prices have remained the same despite Dangote refinery announcing a reduction in its costs of diesel to marketers from N1,200 to N1,000 on April 16.

Speaking on the issue, Abubakar Maigandi, president, of the Independent Petroleum Marketers Association of Nigeria (IPMAN), said marketers still have old stocks, hence the current price of the product.