Diesel Price Hits N3,277/Litre as Businesses Face Rising Energy Costs
The National Bureau of Statistics (NBS) has revealed that the average retail price of Automotive Gas Oil (AGO), commonly known as diesel, increased by 86.40% year-on-year to N3,277.47 per litre in May 2026. According to the latest Diesel Price Watch report released by the statistics agency, the figure rose from N1,758.26 per litre recorded in May 2025.
The report also showed that diesel prices increased by 32.44% on a month-on-month basis, rising from N2,474.69 per litre in April 2026 to N3,277.47 per litre in May. This surge reflects continued pressure on energy costs, affecting businesses, logistics operators, and consumers across the country.
State-Level Diesel Price Breakdown
State-level analysis showed significant differences in diesel prices across Nigeria, with Nasarawa recording the highest average retail price in May 2026. Nasarawa State recorded the highest diesel price at N3,785.84 per litre, followed by Plateau at N3,576.40 and Ebonyi at N3,574.75.
Other states with high diesel prices included Kaduna at N3,535.84, Sokoto at N3,514.16, and Taraba at N3,489.20. Meanwhile, Kogi recorded the lowest average diesel price at N2,823.85 per litre. Benue and Kebbi followed with average prices of N2,961.33 and N3,016.14 respectively.
States with the Highest Diesel Prices (May 2026)
- Nasarawa: N3,785.84
- Plateau: N3,576.40
- Ebonyi: N3,574.75
- Kaduna: N3,535.84
- Sokoto: N3,514.16
- Taraba: N3,489.20
- Jigawa: N3,442.98
- Rivers: N3,428.72
- Osun: N3,421.32
- Cross River: N3,388.85
States with the Lowest Diesel Prices (May 2026)
- Kogi: N2,823.85
- Benue: N2,961.33
- Kebbi: N3,016.14
- Ondo: N3,028.60
- Katsina: N3,131.71
Zonal Diesel Price Performance
The North-West recorded the highest average diesel price among Nigeria’s six geopolitical zones in May 2026. The zone recorded an average price of N3,313.60 per litre, while the South-West recorded the lowest average at N3,227.55 per litre. Diesel remains a key cost factor for businesses and industries, especially manufacturers and transport operators, due to its role in powering generators, logistics operations, and commercial activities.
Dangote Slashes Diesel, Jet Fuel Prices
Earlier, Legit.ng reported that Dangote Petroleum Refinery has reduced the price of Automotive Gas Oil (diesel) at the gantry by N100 to N1,600, providing much-needed hope for a drop in transport, logistics, and manufacturing costs in Nigeria. Analysts said the cut is expected to kick off a new wave of price competition in the downstream market in Nigeria, with depot prices having been high recently. In recent days, diesel has sold for between N1,660 and N1,670 across major Lagos depots, namely African Terminal, Sahara, Ibeto, and Duport.
