Nigeria's Fuel Prices Surge: Diesel Up 86%, Petrol 55%

Fuel inflation in Nigeria has continued to rise, with diesel prices increasing by 86.4%, petrol by 55.31%, and kerosene by 36.62% over the past year, according to the latest report from the National Bureau of Statistics (NBS). As of May 2026, the average retail price for diesel reached N3,277.47 per liter, while petrol was N1,596.25 per liter, and kerosene stood at N2,971.94 per liter.

Diesel experienced the sharpest annual increase and also the largest month-on-month rise of 32.44% in April. The report indicates that these fuel price hikes significantly affect household and business expenditures across various sectors.

Notably, diesel prices were highest in Nasarawa at N3,785.84 per liter, while petrol prices peaked in Edo at N1,722.91 per liter. Kerosene prices were highest in Sokoto at N3,984.09 per liter.

The data underscores the ongoing pressure on energy costs within the Nigerian economy.