The National Bureau of Statistics (NBS) has announced that the average retail price of Premium Motor Spirit (petrol) surged to N1,532.93 per litre in April 2026, a significant increase from N1,288.54 recorded in March. This information was disclosed in the NBS Premium Motor Spirit Price Watch report released in Abuja on Friday.
Month-on-Month and Year-on-Year Increases
The NBS stated that the April price reflects an 18.97 percent rise compared to the previous month. On a year-on-year basis, the cost climbed by 23.69 percent from N1,239.33 per litre in April 2025.
State-by-State Breakdown
Consumers in Yobe State paid the highest average price at N1,599.05 per litre, followed by Edo State at N1,595.74 and Bauchi State at N1,589.07. Conversely, Niger State recorded the lowest average at N1,403.89 per litre, with Sokoto and Katsina at N1,404.16 and N1,406.28 respectively.
Zonal Analysis
The South-South region had the highest average retail price at N1,566.76 per litre, while the North-West zone recorded the lowest at N1,508.81 per litre.
Diesel Prices Also Soar
The NBS Automotive Gas Oil Price Watch report revealed that diesel prices surged 50.16 percent month-on-month from N1,648.06 per litre in March to N2,474.69 in April. Year-on-year, diesel rose 43.67 percent from N1,722.45 per litre in April 2025.
State and Zonal Diesel Data
Nasarawa State had the highest diesel price at N2,818.94 per litre, followed by Ebonyi at N2,754.06 and Taraba at N2,704.76. Kebbi State recorded the lowest at N2,180.28 per litre, with Kogi at N2,192.70 and Katsina at N2,269.14. The North-East region had the highest zonal average at N2,603.00 per litre, while the North-West had the lowest at N2,409.34 per litre.
Experts Attribute Hike to Geopolitical Tensions
Energy experts noted that the dramatic month-on-month increases in both petrol and diesel prices are largely driven by compounding geopolitical tensions in the Middle East. Disruptions around critical trade routes like the Strait of Hormuz have caused volatility in global energy supplies, pushing international Brent crude oil benchmarks higher and impacting domestic costs.
