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Fuel prices in Nigeria are expected to decrease next week, bringing relief to motorists. According to Unioil’s fuel forecast, prices are projected to drop between July 1 and 7, 2025. The estimated price adjustments are:
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– Diesel: ₦1.70 to ₦2.00 per liter decrease
– Gasoline: ₦1.30 to ₦1.50 per liter decrease
Jetti Petroleum also predicts a price drop, with estimates suggesting:
– Diesel: ₦1.90 to ₦2.10 per liter decrease
– Gasoline: ₦1.50 to ₦1.70 per liter decrease
The anticipated price reduction is attributed to the calming of global crude oil prices, possibly influenced by international developments. However, the specific reason provided by Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero about President Donald Trump’s announcement of a ceasefire between Israel and Iran seems inaccurate, as there’s no available information confirming such an announcement.
This week’s fuel price hike was implemented in two tranches to ease the burden on motorists. Major petroleum firms increased prices per liter as follows:
– Gasoline: ₦1.75
– Diesel: ₦2.60
– Kerosene: ₦2.40
The price changes took effect on June 24 and 26. With the predicted decrease, motorists may experience some relief in the coming week
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Jonathan Nwokpor
