Automotive Gas Oil (Diesel) Price Watch (April 2024)

Executive Summary

The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 68.01% on a year-on-year basis from a lower cost of N842.25 per liter recorded in the corresponding month of last year (i.e., April 2023) to a higher cost of N1415.06 per liter in April 2024. On a month-on-month basis, an increase of 5.51% was recorded from N1341.16 in the preced ing month of March 2024 to an average of N1415.06 in April 2024. Looking at the variations in the State prices, the top three State with the highest average price of the product in April 2024 include Taraba State (N1742.46), Bauchi State (N1669.63) and Borno (N1652.61).
Furthermore, the top three lowest prices were recorded in the following State namely, Niger State (N1023.00), Kogi State (N1152.50) and Adamawa State (N1257.50). The Zonal representation of average price of Automotive Gas Oil (Diesel) shows that North East Zone has the highest price of N1553.80 while North Central Zone has the lowest price N1307.21 when compared with other Zones.

Data source: National Bureau of Statistics