History was made when Freightliner unveiled its impressively futuristic Super Truck prototype vehicle at the Mid-America Trucking Show capping a five-year development process in conjunction with the U.S. Department of Energy and other leading industry manufacturers and suppliers.
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Nigerians should prepare for another increase in the pump prices of petrol, due to the continued scarcity of foreign exchange to finance the importation of the product, oil marketers have said. According to them, the United States dollar hit an all-time high last week, as it exchanged for N400 at the parallel market. Worried by the development, the marketers say […]
Continue reading »The Department of Petroleum Resources (DPR) has raised the alarm over adulteration of diesel in the market and vowed to clamp down on the perpetrators of the act. Speaking recently in Lagos when officials of the regulatory agency uncovered two illegal engine oil manufacturing factories in Ikugbayi Street, Marine Bridge and Raji Rasak Estate in FESTAC Town area in the […]
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Uncertainty is dogging in the supply of petroleum products for local consumption as some banks overseas have suspended short and medium-term credit lines to their Nigerian counterparts due to the inability of marketers to pay matured foreign currency obligations of over $950 million. The Guardian learnt at the weekend that unless the Federal Government intervened in the payment of the […]
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A total of 63 trucks loaded with fuel meant for Kano, Bauchi and Yobe states, but diverted have been intercepted by the Department of Petroleum Resources (DPR) in Kano and sold at government approved price. In a briefing, the Operations Controller supervising Kano and Jigawa, Isah Tafida, told the media men that his department has intensified effort in making the […]
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The Department of Petroleum Resources (DPR), Warri Zonal Office on Thursday said it had impounded a truckload of petroleum over alleged diversion of products, just as it sealed 15 petrol stations over offences bordering on under-dispensing, hoarding and receiving diverted products in Delta and environs. The Assistant Director of Operations, DPR Warri Zonal Office, Mr. Ovadje Obukaroro, who confirmed this, […]
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TRADITIONAL REASONS FOR HIGH DIESEL PRICE Traditionally, upward swing in diesel price is usually due in part to the rising price of crude oil in the international market, age-long failure of local refineries to meet production target and lack of clear cut policy by the Federal Government on the deregulation of the downstream sector. Chief among these reasons has always […]
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WHEN the price of crude oil started crashing in August last year, expectations were high that domestic pump prices of refined petroleum products would also decline, giving businesses and individuals a much-needed relief. The price of crude oil, which constitutes a major component in the pricing template, had plunged by about 60 per cent since June 2014 when it peaked […]
Continue reading »How many rotors and nozzles did you lose and had to replace during the year? How many times did you have your fuel injector pump serviced or outrightly replaced? Did you lose any turbo charger or a number of them during the year? Affirmative answer to any of the above is a sure signal to take a second look at […]
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Diesel Fuel Cost In Nigeria, fuel for trucking rank way ahead of the other major uses either as a source of domestic energy supply for most homes or as the power behind the productive activities in many industrial establishments and corporate enterprises (this is directly traceable to the not so impressive condition of public power supply). The proportion of diesel […]
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The Root Cause The World Bank Report of 2000 and several other reports have shown that kerosene is principally used to adulterate diesel on account of the price differences between the two fuels. Facts on ground at least in Nigeria tend to give some credence to this. As stated in one of our articles, diesel market is a completely deregulated […]
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Prologue: An Unpleasant Experience A couple of months ago, a notable haulage operator shared a sad experience on diesel fuel contamination with us. Mid 2012, six units of less than a year old 30tonnes truck-trailer were dispatched to haul products for a contract client. Trucks were loaded and fueled at client’s fuel dump. Abuja, Nigeria’s Federal Capital Territory (FCT) was […]
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