Fuel price drops 11.18% in one year, says NBS

The National Bureau of Statistics has reported that the average retail price of a litre of petrol fell from N1,184.83 in October 2024 to N1,052.31 in October 2025.

The NBS disclosed this in its Petrol Price Watch for October 2025, released in Abuja on Tuesday.

The figure represents an 11.18 per cent year-on-year decrease from the price recorded in October 2024.

“Comparing the average price value with the previous month of September, the average retail price increased by 8.42 per cent from N970.59,” the report added.

On a state-level analysis, Kogi recorded the highest average retail price at N1,110.00, followed by Sokoto and Borno at N1,105.93 and N1,101.63, respectively.

Conversely, Oyo, Nasarawa, and Abia recorded the lowest prices at N1,001.79, N1,009.38, and N1,012.50 per litre, respectively.

By zone, the North-East recorded the highest average retail price at N1,072.74, while the South-West Zone had the lowest at N1,032.81 per litre.

The NBS also released its Diesel Price Watch report for October 2025, stating that the average retail price was N1,398.57 per litre.

This represents a 2.96 per cent year-on-year decrease from N1,441.28 per litre in October 2024.

“On a month-on-month basis, the price increased by 9.45 per cent from the N1,277.81 per litre recorded in September 2025,” the report added.

State-level analysis showed that Enugu recorded the highest diesel price per litre in October at N1,468.29, followed by Niger at N1,465.69 and Jigawa at N1,437.40.

The lowest prices were recorded in Katsina at N1,301.24, Edo at N1,307.84, and Kebbi at N1,308.94.

By zone, the South-East recorded the highest diesel price at N1,415.85 per litre, while the South-South had the lowest at N1,387.18 per litre.

(NAN)