Petrol price hits N1,532 per litre in April — NBS

National Bureau of Statistics has reported a sharp increase in the average retail price of petrol, which rose from N1,288.54 per litre in March to N1,532.93 in April.

In its April Premium Motor Spirit (Petrol) Price Watch released in Abuja, the agency said the latest figure represents an 18.97 per cent month-on-month increase.

On a year-on-year basis, petrol prices also climbed by 23.69 per cent from N1,239.33 recorded in April 2025.

A breakdown by states showed that Yobe recorded the highest average price at N1,599.05 per litre, followed by Edo and Bauchi.

In contrast, Niger posted the lowest average price at N1,403.89, with Sokoto and Katsina also among the least expensive.

Zonal analysis indicated that the South-South had the highest average petrol price at N1,566.76, while the North-West recorded the lowest at N1,508.81.

The NBS also highlighted a significant surge in diesel prices. According to its April Diesel Price Watch, the average retail price rose by 50.16 per cent month-on-month, 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 to N2,474.69 in April 2026.

State-by-state data showed Nasarawa recorded the highest diesel price at N2,818.94 per litre, followed by Ebonyi and Taraba.

Kebbi had the lowest price at N2,180.28, with Kogi and Katsina also among the lowest.

By region, the North-East posted the highest average diesel price at N2,603 per litre, while the North-West recorded the lowest at N2,409.34.

Analysts attribute the rising fuel costs to global factors, particularly geopolitical tensions in the Middle East.

The reported closure of the Strait of Hormuz has disrupted global supply chains and driven up Brent crude oil prices, contributing to higher fuel costs domestically.