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

Executive Summary

The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 181.00% from N238.82 in May 2021 to N671.08 recorded in May 2022. On a month-on -month basis, the average retail price increased from N654.46 in April 2022, indicating a rise of 2.54% when compared to the average retail price paid in May 2022.
On state profile analysis, the state with the highest average price for Diesel in May 2022 was Ekiti with N716.15, followed by Osun and Oyo with N716.00 and N707.33 respectively. On the other hand, the state with the lowest average retail price was Yobe with N560.00, followed by Bauchi and Delta with N570.00 and N624.44 respectively. In addition, the zone analysis shows that the average price of Diesel was highest in the South-West with N705.60, while the North-East had the lowest price with N639.00.

Data source: National Bureau of Statistics