Automotive Gas Oil (Diesel) Price Watch (January 2022)

Executive Summary

The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 28.12 percent on a year-on-year from ₦224.86 per litre in January 2021 to ₦288.09 per litre in January 2022. On a month-on-month, the average retail price of Diesel stood at ₦288.09 per litre in January 2022 indicating a decline of 0.44 percent from ₦289.37 in December 2021.
Looking at the State variations of average retail prices, the top three states with the highest average price per litre in January 2022 were Ebonyi, Edo and Osun with ₦343.00, ₦331.64, and ₦328.89 respectively. Also, the states with the lowest average prices per litre were Yobe, Kano and Sokoto with ₦216.67, ₦224.29, and ₦225.73 respectively.
The zonal distribution of average retail prices shows that South-East has the highest with ₦317.45 followed by South-West and South-South with ₦314.25 and ₦303.05 respectively. While the zone with the lowest average retail price was the North-West with ₦243.62.

Data source: National Bureau of Statistics