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

Executive Summary

The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 12.77% on a year-on-year basis from a lower cost of N789.90 per litre recorded in the corresponding month of last year to a higher cost of N890.80 per litre in September 2023.
On a month-on-month basis, an increase of 4.27% was recorded from N854.32 in the preceding month of August to an average of N890.80 in September 2023. Looking at the variations in the State prices, the top three State with the highest average price of the product in September 2023 include Kano State (N967.78), Anambra State (N950.95) and Niger State (N950.55).
Furthermore, the top three lowest prices were recorded in the following State namely, Bayelsa State (N840.16), Katsina State (N840.55) and Rivers State (N840.82). The Zonal representation of average price of Automotive Gas Oil (Diesel) shows that South East Zone has the highest price of N918.06 while South South Zone has the lowest price N863.97 when compared with other Zones. 

Data source: National Bureau of Statistics