- A new report from the NBS has revealed that, once again, companies and Nigerians bought diesel at higher prices
- According to the NBS report, in December 2023, the cost of filling a litre of diesel increased by 37.76%
- Diesel is one of the petroleum products that Dangote Refinery is expected to begin selling in the coming weeks
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The National Bureau of Statistics (NBS) has revealed that the average retail price of automotive gas oil (diesel) paid by consumers increased in April to N1415.06 per litre.
This was contained in the NBS's latest Diesel Price Watch Report published on its website and obtained by Legit.ng.
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This represents a 68% increase on a year-on-year basis compared to N842.25 per litre paid by Nigerians in April 2023.
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On a month-on-month basis, the diesel price increased by 5.51% compared to the average of N1,341.16 in March 2024.
State-to-state breakdown of diesel price
Based on state profile analysis, the highest average price of the product in April 2024 was in Taraba state (N1,742.46), Bauchi state (N1,669.63), and Borno state (N1,652.61).
Furthermore, Punch reports that the top three lowest prices were recorded in the following Niger state (N1,023.00), Kogi state (N1,152.50), and Adamawa state (N1,257.50) respectively.
The report also provided a breakdown of diesel prices by region, which shows that the North West Zone has the highest price of N1227.31 while the South South Zone has the lowest price of N1039.90 compared to other Zones.
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10 expensive states to buy diesel in Nigeria
- TarabaN1742.46
- BauchiN1669.63
- BornoN1652.61
- YobeN1637.25
- BayelsaN1570.00
- ImoN1534.79
- Cross RiverN1531.25
- NassarawaN1520.00
- EnuguN1518.41
- AnambraN1508.04
Dangote adjusts diesel price
Earlier, Legit.ng reported that diesel prices at the Dangote Refinery skyrocketed to N1,100 per litre amid the naira's continued fall against the dollar.
Oil marketers reported that the refinery increased the price about two weeks ago, leading to them buying it at about N1,200 per litre.
Also, petrol prices have increased in many private depots to about N710 per litre, which has led to an increase in pump price to N750 per litre.
Proofreading by James Ojo Adakole, journalist and copy editor at Legit.ng.
Source: Legit.ng
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