Diesel prices increase by 23.98% — NBS

Diesel prices increase by 23.98% — NBS

The average retail price of Automotive Gas Oil (diesel) in Nigeria rose by 23.98 per cent year on year to N1,813.81 per litre in June 2025, according to data released by the National Bureau of Statistics (NBS).

The latest Automotive Gas Oil Price Watch report indicated that diesel prices increased from N1,462.98 per litre recorded in June 2024 to the current level, reflecting a sustained upward trend in fuel costs. On a month-on-month basis, the average price also rose by 3.16 per cent from N1,758.26 per litre in May 2025.

The NBS stated that the data were collected from sample outlets spread across all 774 local government areas in Nigeria’s 36 states and the Federal Capital Territory, Abuja.

Over 10,000 respondents participated in the survey, with estimates derived from household expenditure on fuel and the actual prices paid at the point of purchase.

More than 700 NBS staffmembers were involved in the data collection, supported by quality control officerswho usedg structured monitoring guidelines.

Diesel remains a critical energy source in Nigeria, powering generators used by households, small businesses and large industries due to limited and inconsistent electricity supply from the national grid.

Meanwhile changes in its price often have a direct impact on transport costs, food prices and the overall cost of doing business.

State-by-state data showed wide variations in diesel prices across the country. Benue State recorded the highest average price in June 2025 at N2,541.46 per litre, followed by Adamawa State at N2,355.32 and Plateau State at N2,236.42.

By contrast, Ondo State recorded the lowest average price at N1,365.71 per litre, followed by Anambra State at N1,391.02 and Kogi State at N1,400.00.

At the zonal level, the South South recorded the highest average diesel price at N1,963.86 per litre, while the South West had the lowest average at N1,618.74. Other zones recorded prices within this range, pointing to uneven fuel costs nationwide.

The June figures follow similar increases earlier in the year. In May 2025, the average retail price of diesel stood at N1,758.26 per litre, representing a 25.24 per cent increase compared with N1,403.96 recorded in May 2024. Month-on-month, prices had risen by 2.08 per cent between April and May.

The NBS publishes the Automotive Gas Oil Price Watch monthly as part of its National Economy data series.

The agency said the exercise is designed to provide reliable and timely information on fuel prices to support planning, policy formulation and public understanding of market conditions.

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