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

Executive Summary

The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 8.57% on a year-on-year basis from a lower cost of N786.88 per litre recorded in the corresponding month of last year to a higher cost of N854.32 per litre in August 2023. On a month-on-month basis, an increase of 7.53% was recorded from N794.48 in the preceding month ofJuly to an average of N854.32 in August 2023.
Looking at the variations in the State prices, the top three State with the highest average price of the product in August 2023 include Abia State (N970.00), Niger State (N960.14) and Abuja (N950.22). Furthermore, the top three lowest prices were recorded in the following State namely, Bayelsa State (N700.00), Katsina State (N771.43) and Kaduna State (N775.42).. 

Data source: National Bureau of Statistics