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

Executive Summary

The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 36.98 percent year-on-year from a lower cost of ₦227.76 per litre in February 2021 to a higher cost of ₦311.98 per litre in February 2022. On a month on month, the average price of Diesel stood at ₦311.98 per litre in February 2022 indicating an increase of 8.29 percent from ₦288.09 in January 2022. Looking at the State variations of prices, the state with the highest average price per litre in February 2022 was Edo with ₦373.18, followed by Oyo state with ₦372.38 and Plateau with ₦355.40.
Furthermore, Kebbi state had the lowest average prices per litre with ₦231.67, followed by Yobe with ₦240.00 and Kano with ₦250.06. The zonal distribution of prices shows that average retail price was highest in the South South with ₦335.53 followed by South West and South East with ₦335.40 and ₦326.76 respectively. While the zone with the lowest price was the North West recording ₦268.84.

Data source: National Bureau of Statistics