Nigeria Diesel Price Surge Report

Nigeria experienced the highest diesel price increase globally at 82.7% from February to August 2026, according to UNCTAD. Petrol prices also rose by 48.1%. The report attributes these increases to global energy supply disruptions and highlights Nigeria's reliance on fuel imports

Nigeria experienced the highest diesel price increase globally at 82.7% from February to August 2026, as reported by UNCTAD. Petrol prices also rose by 48.1%, marking the fourth-highest increase worldwide during the same period.

Nigeria is identified by UNCTAD as an oil exporter poised to benefit from rising global energy prices, although limited refining capacity may offset gains. The report highlights the impact of Middle East conflicts on energy supply and prices.