We all know that the price of petrol is so high now because of the removal of fuel subsidy from the federal government and surprisingly the price of the aviation fuel known as Jet A1 which has been going down the price slope.
The price of the aviation fuel that we all know it's 800 has now reduced to N650 in Lagos and N680 in Abuja from June 1st.
Although it slightly higher in Kano, Maiduguri and Port Harcourt.
Yesterday, checks indicated that Jet A1 was sold at N620 in Lagos; N660 in Abuja and N680 in Kano.
The price of the aviation fuel has been crashing which seems unbelievable but we had to believe that it's the law of demand and supply that's causing it.
“This has been the development since last week when fuel subsidy was removed from Jet A1. It appears this is a spontaneous reaction to developments in the oil and gas market,” said an operator.
The price of Jet
A1 skyrocketed beyond what the operators expected, hitting almost N1,000 per litre last year.
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