Diesel, petrol prices ease year-on-year despite monthly fluctuations — NBS

The average retail price of Automotive Gas Oil (diesel) in Nigeria declined by 2.57 per cent year-on-year to N1,409.61 per litre in November 2025, compared to N1,446.83 recorded in the same month of 2024, according to the latest Diesel Price Watch released by the National Bureau of Statistics (NBS).

However, the report showed a slight month-on-month increase of 0.79 per cent, as diesel prices rose from N1,398.57 per litre in October 2025 to N1,409.61 in November, reflecting continued volatility in the energy market.

A state-by-state analysis revealed wide price disparities across the country. Niger State recorded the highest average diesel price at N1,477.57 per litre, followed by Jigawa at N1,477.31 and Enugu at N1,468.29.

In contrast, Kebbi posted the lowest average price at N1,308.94, with Katsina and Nasarawa recording N1,315.78 and N1,325.29 respectively.

Zonal figures showed that the South East had the highest average diesel price at N1,419.34 per litre, while the South South zone recorded the lowest at N1,400.58, indicating narrower price gaps at the regional level compared to individual states.

Energy analysts attributed the variations to logistical bottlenecks, regional supply constraints and differences in local demand.

One of the energy analysts Dare Awoyemi noted that diesel pricing remains highly sensitive to external and domestic factors.

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“Diesel costs are strongly influenced by global crude oil prices, foreign exchange movements and the efficiency of domestic distribution networks,” Awoyemi said.

“The slight month-on-month increase may signal emerging supply pressures or increased demand as economic activities expand.”

Diesel remains a critical energy source for manufacturing, logistics and private power generation, making its pricing a key factor in inflation and overall economic performance.

Analysts stressed that stabilising diesel prices would require sustained investments in infrastructure, improved distribution systems and supportive policy measures.

Meanwhile, NBS data also showed mixed movements in petrol prices. The average retail price of Premium Motor Spirit (PMS), commonly known as petrol, fell by 12.59 per cent year-on-year to N1,061.35 per litre in November 2025, down from N1,214.17 in November 2024.

On a month-on-month basis, however, petrol prices edged up by 0.86 per cent from N1,052.31 recorded in October.

State-level data indicated that Borno recorded the highest average petrol price at N1,133.86 per litre, followed by Sokoto at N1,118.83 and Kogi at N1,111.00. Oyo State had the lowest average price at N997.39, while Nasarawa and Lagos posted N1,015.12 and N1,021.14 respectively.

Zonal analysis showed the North East recording the highest average petrol price at N1,084.04, while the South West had the lowest at N1,036.12 per litre.

Analysts linked the modest month-on-month increase in petrol prices to supply logistics, exchange rate pressures and distribution challenges, despite the full deregulation of the downstream petroleum sector.