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 â‚¦227.76 per litre in February 2021 to a higher cost of â‚¦311.98 per litre in February 2022. On a month on month, the average price of Diesel stood at â‚¦311.98 per litre in February 2022 indicating an increase of 8.29 percent from â‚¦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 â‚¦373.18, followed by Oyo state with â‚¦372.38 and Plateau with â‚¦355.40.
Furthermore, Kebbi state had the lowest average prices per litre with â‚¦231.67, followed by Yobe with â‚¦240.00 and Kano with â‚¦250.06. The zonal distribution of prices shows that average retail price was highest in the South South with â‚¦335.53 followed by South West and South East with â‚¦335.40 and â‚¦326.76 respectively. While the zone with the lowest price was the North West recording â‚¦268.84.
Data source: National Bureau of Statistics