Diesel prices projected to rise sharply in 2020 [Business]

The price of diesel is projected to rise by 20% in January 2020 (in Nigeria) following an International Maritime Organisation regulation to reduce sulphur emissions.

As a result, oil-refining industries are expecting an increase in the demand for cleaner distillates, like diesel, at the expense of fuel-oil. In Africa, Nigeria is one of the countries where businesses heavily rely on diesel-run generators to operate during blackouts. Business owners are not ready for higher costs of production which will in turn affect output.