By Nchetachi Chukwuajah
The National Bureau of Statistics (NBS) says the average retail price of a litre of Premium Motor Spirit (PMS), popularly known as petrol, increased by 18.97 percent from N1,288.54 to N1,532.93 in one month.
The NBS disclosed this petrol price increase in its PMS Price Watch for April, released in Abuja on Friday, May 29, noting that the price increased from N1,288.54 in March to N1,532.93 in April 2026.
According to the NBS, the average retail price of petrol increased by 23.69 percent on a year-on-year basis from N1,239.33 recorded in April 2025 to N1,532.93 in April 2026.
The report noted that Yobe, Edo, and Bauchi recorded the highest average retail price of petrol, while Niger, Sokoto, and Katsina states paid the lowest average retail price during the period.
“On state profiles analysis, Yobe paid the highest average retail price of N1,599.05 per litre, followed by Edo at N1,595.74 and Bauchi at N1,589.07.
“Conversely, Niger paid the lowest average retail price of N1,403.89, followed by Sokoto at N1,404.16 and Katsina at N1406.28,” it said.
A geopolitical zone analysis of the report showed that the South-South recorded the highest average retail price in April at N1,566.76, while the North-West recorded the lowest at N1,508.81.
The NBS also said in its Diesel Price Watch Report for April 2026 that the average retail price paid by consumers increased by 50.16 percent on a month-on-month basis.
It said the retail price of the product jumped from a lower cost of N1,648.06 per litre recorded in March to an average higher cost of N2,474.69 in April.
On a year-on-year basis, the price also increased by 43.67 percent from a lower cost of N1,722.45 per litre recorded in April 2025 to a higher cost of N2,474.69 in April 2026.
On state profiles analysis, the NBS said the highest average price of diesel in April 2026 was recorded in Nasarawa at N2,818.94 per litre, followed by Ebonyi at N2,754.06 and Taraba at N2,704.76.
“On the other hand, the lowest price was recorded in Kebbi at N2,180.28 per litre, followed by Kogi at N2,192.70 and Katsina at N2,269.14.
“In addition, the analysis by zone showed that the North-East has the highest price at N2,603 per litre, while the North-West Zone recorded the lowest price at N2,409.34 per litre,” it said.
The increase in the month-on-month price of petrol and diesel has been largely attributed to the geopolitical tensions in the Middle East, where the closure of the Strait of Hormuz has disrupted global energy supplies and pushed Brent crude oil prices significantly higher.
