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

Executive Summary

The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 129.10% from N235.41 in March 2021 to N539.32 the value recorded in March 2022. On month-on-month basis, the average retail price increased from N311.98 in February 2022 indicating a rise of 72.87% when compared to the average retail price paid in March 2022.
On state profile analysis, the state with the highest average price for Diesel in March 2022 was Ekiti with N672.14 followed by Lagos and Abia with N668.75 and N645.00 respectively. On the other hand, the state with the lowest average price was recorded in Bauchi with N408.00 followed by Borno with N432.00 and Yobe with N412.00. In addition, zone analysis shows that the average price of Diesel was highest in South-West with N619.11 while North-East had the lowest price with N450.17.

Data source: National Bureau of Statistics