The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 64.58% on a year-on-year basis from a lower cost of N854.32 per liter recorded in the corresponding month of last year (i.e., August 2023) to a higher cost of N1,406.05 Per liter in August 2024. On a month-on-month basis, an increase of 1.93% was recorded from N1,379.48 in July 2024 to an average of N1,406.05 in August 2024.

Looking at the variations in the State prices, the top three States with the highest average price of the product in August 2024 include Kaduna State (N1,930.79), Bauchi State (N1,927.34), and Taraba (N1,638.14). Furthermore, the top three lowest prices were recorded in the following State namely, Lagos State (N1,237.14), Ogun State (N1,255.00), and Osun (N1,268.18). The Zonal representation of average price of Automotive Gas Oil (Diesel) shows that North East Zone has the highest price of N1,621.23 while South West Zone has the lowest price of N1,283.47 when compared with other Zones.. 

Data source: National Bureau of Statistics

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