The National Bureau of Statistics (NBS) has revealed that the average retail price of Premium Motor Spirit (petrol) rose from N1,288.54 per litre in March to N1,532.93 in April 2026.
In its April Petrol Price Watch report released in Abuja, the NBS stated that the new price represents an 18.97 per cent increase compared to March figures. On a year-on-year basis, petrol prices also climbed by 23.69 per cent from N1,239.33 recorded in April 2025.
According to the report, Yobe recorded the highest average petrol price at N1,599.05 per litre, followed by Edo at N1,595.74 and Bauchi at N1,589.07. In contrast, Niger residents paid the lowest average price at N1,403.89, while Sokoto and Katsina recorded N1,404.16 and N1,406.28 respectively.
Regional analysis showed that the South-South zone had the highest average petrol price at N1,566.76 per litre, whereas the North-West recorded the lowest average at N1,508.81.
The NBS also disclosed in its Diesel Price Watch Report for April 2026 that the average retail price of diesel increased sharply by 50.16 per cent month-on-month. Diesel prices rose from N1,648.06 per litre in March to N2,474.69 in April.
Year-on-year, diesel prices increased by 43.67 per cent from N1,722.45 per litre in April 2025.
Nasarawa recorded the highest average diesel price at N2,818.94 per litre, followed by Ebonyi at N2,754.06 and Taraba at N2,704.76. Kebbi recorded the lowest diesel price at N2,180.28 per litre, while Kogi and Katsina followed with N2,192.70 and N2,269.14 respectively.
The report further showed that the North-East had the highest average diesel price at N2,603 per litre, while the North-West recorded the lowest regional average at N2,409.34.
Industry experts attributed the sharp rise in fuel prices to escalating geopolitical tensions in the Middle East. They noted that disruptions caused by the closure of the Strait of Hormuz have affected global energy supply chains and significantly increased Brent crude oil prices.
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