Diesel Price Surges 68% to N1,415.06 per Litre

 

The average retail price of Automotive Gas Oil (Diesel) soared by 68.01% year-on-year, reaching N1,415.06 per litre in April, according to the National Bureau of Statistics (NBS) in its Automotive Gas Oil (Diesel) Price Watch report for April 2024. On a month-on-month basis, diesel prices increased by 5.51%, up from N1,341.16 in March 2024. 

State-level data reveal significant price disparities across Nigeria. Taraba State recorded the highest average price at N1,742.46 per litre, followed by Bauchi State at N1,669.63 and Borno State at N1,652.61. These variations are influenced by factors such as transportation costs, supply logistics, and regional demand.

Conversely, Niger State had the lowest diesel price in April 2024 at N1,023.00 per litre, with Kogi State and Adamawa State following at N1,152.50 and N1,257.50 per litre, respectively.

In terms of zonal distribution, the North East zone reported the highest average diesel price at N1,553.80 per litre, while the North Central zone had the lowest average price at N1,307.21 per litre.