Deregulation, forex forces raise price of diesel to all-time high – Guardian

As Nigerians begin to enjoy the benefits of the partial deregulation of Premium Motor Spirit (PMS), which resulted in availability of the product, the price of Automotive Gas Oil (AGO), otherwise known as diesel, has skyrocketed in the last few weeks.

The Guardian learnt that the shortage of foreign exchange, in addition to failure of Nigeria’s refineries to produce due to pipeline vandalism, have contributed to the high cost of diesel.

It was gathered that marketers now hide under the cover of deregulation to raise the pump price of AGO from around N120 per litre to above N200 per litre.