Oil marketers in Nigeria on Wednesday predicted that the price of aviation fuel might hit N700/litre by next week if the global crude oil price continued to fluctuate. This is coming barely 24 hours after the price of the product rose by 35 per cent from N430/litre to N580/litre. The National Operations Controller, Independent Petroleum Marketers Association of Nigeria, Mr. Mike Osatuyi, who gave the hint in an exclusive interview with Punch News, said the Russia-Ukraine war as well as other related factors might fuel further increases in the prices of aviation fuel and other petroleum products.
Aviation fuel, also known as Jet A1, which sold for N190/litre and later N360/litre in January this year, rose to between N579 and N607/litre on Tuesday.
The prevailing situation have caused two of Nigeria’s largest domestic airlines to cancel some internal flights and delay others within the week.
In a statement released on Wednesday, Air Peace airline, flying to Dubai and Johannesburg, said it was likely to experience flight disruptions in the coming days all thanks to jet fuel shortages.
Another carrier, Arik Air, delayed almost all of its flights on Tuesday and cancelled others, it said, adding that there was no certainty on the situation in the coming days.
Three other airlines, United Airlines, Dana Air, and Ibom Air also released statements about facing challenges in sourcing jet fuel after their customers complained on social media.
