Businesses continue to suffer as diesel price hits N650 per litre

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The retail price of automotive gas oil, also known as diesel, has spiked to N650 a litre in some fuel stations, leading to more woes for businesses that depend on the commodity to run their operations.

Earlier in the month, the ex-depot price of the product had crossed N500/litre, causing fuel stations to adjust their pump prices to current realities.

At the Nigerian National Petroleum Company (NNPC) fuel station located in Second Rainbow, along Oshodi/Apapa road, diesel is priced at N650 yesterday.

The price is the same at Remdabson and Mobil fuel stations in Ikorodu.

With rising global oil prices skyrocketing, imported petroleum products, including diesel, kerosene and aviation fuel, have hit the roof in Nigeria.