Automotive Gas Oil (Diesel) Price Watch (January 2023)

Executive Summary

The average retail price of Automotive Gas Oil (Diesel) paid by consumers in January 2023 was N828.82 per litre, an increase of 187.69% from N288.09 per litre recorded in the corresponding month of the previous year. On a month-on-month basis, this increased by 1.34% from N817.86 per litre reported in December 2022. On state profile analysis, the highest average price of the product in January 2023 was recorded in Bauchi with N900.00, followed by Benue with N885.71, and Adamawa with N866.67. On the other hand, the lowest price was recorded in Bayelsa with N768.75, followed by Edo with N788.00 and Akwa Ibom with N788.75. Furthermore, analysis by zone showed that the South-West had the highest price with N845.59, while the South-South recorded the lowest price with N800.49.

Data source: National Bureau of Statistics