Petrol price versus exchange rate 2015 – 2024

Petrol price versus exchange rate 2015 – 2024 exemplifies the pump price of petrol per litre over figure of foreign exchange during the period under review.

From January 2015 to January 2024, exchange rate has always been higher than petrol price. Ironically, NNPCL is fixing the price of Dangote petrol at current foreign exchange figure in Nigeria.

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See detail of the figures from 2015 to 2024 in Nigeria.

Average price/Litre || $1 to Naira

Jan 2015 — ₦103.65 || ₦168

Jan 2016 — ₦109.59 || ₦197

Jan 2017 — ₦148.70 || ₦305.20

Jan 2018 — ₦190.87 || ₦305.78

Jan 2019 — ₦145.70 || ₦306.85

Jan 2020 — ₦145.37 || ₦306.96

Jan 2021 — ₦164.09 || ₦380

Jan 2022 — ₦166.40 || ₦415.06

Jan 2023 — ₦257.12 || ₦455.79

Jan 2024 — ₦668.30 || ₦941.76

Jul 2024 — ₦770.54 || ₦1,556.90

02 Sep 2024 — between ₦855 & ₦897 || ₦1,609.03

Credit: StatiSense