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

Executive Summary

The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 202.67% on a year-on-year basis from a lower cost of N242.43 per litre recorded in the corresponding month of last year to a higher cost of N733.78 per litre in June 2022. On a month-on-month basis, an increase of 9.34% was recorded from N671.08 in the preceding month of May to an average of N733.78 in June 2022. Looking at the variations in the state prices, the top three states with the highest average price of the product in June 2022 include, Kwara (N800.00), Delta (N798.50) and Katsina (N786.36). Furthermore, the top three lowest prices were recorded in the following State namely, Bauchi (N650.00), Yobe (N675.00) and Kogi (N678.00). The Zonal representation of the average price of Automotive Gas Oil (Diesel) shows that North-West has the highest price of N758.79 while North East has the lowest price of N715.00 when compared with other zones

Data source: National Bureau of Statistics