The price of fuel in Nigeria is 289.37 Nigerian Naira per litre.
What is the cost of 1 litre diesel?
On September 24, 2017, the international market price of diesel was $68.92 a barrel (one barrel equals 159 litres).
The day’s average exchange rate is Rs.64.09 per dollar, bringing the cost of a litre of fuel to Rs.27.78. The OMCs pay refineries Rs. 28.16 per litre, according to the daily price formula.
OMCs offer it to dealers for Rs. 30.22 per litre after deducting their profit margin, marketing costs, freight, and other fees.
The fuel station dealers then add Rs. 17.33 per litre in excise duty, Rs. 2.50 per litre in commission, Rs. 2.50 per litre in VAT, and Rs. 8.67 per litre in pollution cess, and sell it to customers for Rs. 58.72.
How much is a litre of diesel in Abuja?
Diesel prices per litre in Abuja During that time, the average value for Abuja was 266.73 Nigerian Naira, with a low of 256.36 Naira on 15-Nov-2021 and a high of 291.97 Naira on 17-Jan-2022.
How much is fuel in Nigeria today?
- According to current market statistics, the product currently sells for between N165 and N170.
- Petrol is currently lowest in the states of Taraba (N157.33), Borno (N160.1), and Katsina (N160.86), while it is most expensive in the states of Benue (N183.29), Abia (N171.88), and Cross River (N170.5).
What was diesel price in 2020?
In 2020, the average annual cost of diesel fuel in the United States was 2.55 dollars per gallon. This was a drop from the previous year, when diesel was selling for an average of $3.06 per gallon.
Is diesel more expensive than gas?
The cost of diesel fuel is higher. Historically, diesel fuel has been more expensive than gasoline. Diesel fuel is subject to a higher federal excise tax than gasoline (24.4 cents per gallon vs. 18.4 cents per gallon for gasoline), and diesel fuel is occasionally subject to a higher state tax.
Is diesel cheaper than gas?
Customers who drive a lot of highway miles prefer diesel engines, according to Bell Performance and Road and Track, because they are more efficient on these roads than gas engines. Diesel fuel simply has more energy per gallon than gasoline, making it more cost-effective overall. Diesel engines are still more fuel efficient than gasoline engines, but they are less so for city drivers. Diesel cars also have higher torque, which means they get better gas mileage and accelerate faster.
It’s crucial to keep in mind that some types of diesel fuel can reduce vehicle performance. Black diesel, biodiesel, and other improved diesel products are among them.
Diesel and gasoline are around the same price for most Americans. Diesel can sometimes be more expensive than gasoline, yet it can also be less expensive than gasoline. Even if you pay more on diesel fuel, a diesel engine will still provide better fuel efficiency throughout the life of the car. This is because an 8-liter gasoline engine would be required to produce the same level of power as a 6-liter diesel engine.
Diesel engines, according to Digital Trends, are more durable and endure longer than gas engines, with reliable operation and low maintenance requirements. Diesel cars used to be substantially heavier than comparable-sized gas cars, but thanks to contemporary manufacturing technologies, this is no longer an issue.
Diesel engines also have fewer components than gasoline engines, reducing the number of potential parts that could fail in your vehicle.
Diesel engines often require fewer repair and maintenance services than gasoline engines, resulting in a cost savings.
While early diesel engines had a well-deserved reputation for being noisy, current technology has largely addressed this issue. Noise pollution and dark smoke have been reduced, so if you were concerned about those issues in prior decades, you may wish to reconsider diesel as a viable option. Today, the driving experience in a diesel-powered vehicle is essentially identical to that of a gasoline-powered vehicle.
How much is a litre of fuel in Nigeria 2021?
The average price of gasoline in Nigeria in August 2021 was 165 Naira per liter, or roughly 0.4 US dollar. The price dropped by 0.6 percent from the previous month.