Fuel Prices Surge 86% in Nigeria Amid Global Market Volatility

According to a report by priceandpromo, the average prices of petrol and diesel in Nigeria have increased by 86% in 2026, with petrol reaching N1,378 per litre and diesel at N1,899 per litre by September 22. The report indicates that petrol prices rose by 80.8% since January 13, while diesel prices increased by 91.8% over the same period.

The report highlights that after a sharp increase in March, fuel prices stabilized from April to July before rising again in August and September. This renewed increase is linked to heightened volatility in the international energy market, which continues to affect the domestic market.

The report warns that these rising fuel prices could have broader implications for transportation, logistics, and the overall cost of goods, emphasizing the importance of monitoring this trend due to its potential impact on mobility and logistics costs.