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

Executive Summary

The average retail price of Automotive Gas Oil (Diesel) paid by consumers in December 2022 was N817.86 per litre, an increase of 182.64% from N289.37 per litre recorded in the corresponding month of the previous year. On a month-on-month basis, this increased by 1.11% from N808.87 per litre reported in November 2022. On state profile analysis, the highest average price of the product in December 2022 was recorded in Ebonyi with N869.25, followed by Bauchi with N860.00, and Ondo with N856.36 On the other hand, the lowest price was recorded in Akwa Ibom with N773.75, followed by Benue with N777.50 and Borno with N785.00. Furthermore, analysis by zone showed that the South-West had the highest price with N841.35, while the South-South recorded the lowest price with N798.54. 

Data source: National Bureau of Statistics