Automotive Gas Oil (Diesel) Price Watch (December 2021)

Executive Summary

The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 28.97% on a year-on-year basis from a lower cost of N224.37 per litre recorded in the corresponding month of last year to a higher cost of N289.37 per litre in December 2021. On a month-on-month basis, an increase of 4.15% was recorded from N277.83 in the preceding month of November to an average of N289.37 in December 2021.
Looking at the variations in the state prices, the top three States with the highest average price of the product in December include, Enugu (N349.29), Borno (N340.00) and Oyo (N326.25). Furthermore, the top three lowest prices were recorded in the northern region: Kebbi, Yobe and Katsina State with N232.36, N226.61 and N225.00 respectively. The Zonal representation of average price of Automotive Gas Oil (Diesel) shows that South-East has the highest price of N307.35 while North West has the lowest price N263.65 when compared with other zones

Data source: National Bureau of Statistics