According to the Bureau’s Petrol Price Watch and Diesel Price Watch reports released in Abuja on Thursday, the average price of a litre of petrol rose significantly to ₦1,037.66 in June 2025, up from ₦750.17 in June 2024. This reflects a 38.32% increase over a 12-month period, underscoring the persistent inflationary pressures on energy products.
The report also noted a modest month-on-month increase of 0.96%, compared to ₦1,027.76 per litre recorded in May 2025.
Regional Variations in Petrol Prices
Fuel costs varied widely across different parts of the country. The state-level analysis showed that residents of Jigawa paid the highest average petrol price at ₦1,107.52 per litre, followed closely by Ondo (₦1,104.80) and Lagos (₦1,100.29).
In contrast, states such as Yobe, Kogi, and Imo recorded the lowest average petrol prices, at ₦950.60, ₦986.67, and ₦987.86, respectively.
From a geopolitical zone perspective, the North-West zone topped the chart with an average retail price of ₦1,062.84, while the North-East recorded the lowest at ₦1,020.15 per litre.
Diesel Prices Also on the Rise
The NBS report on diesel followed a similar trend. As of June 2025, the average retail price of diesel was ₦1,813.81 per litre, up from ₦1,462.98 in June 2024, indicating a 23.98% year-on-year increase.
Compared to the previous month of May 2025, diesel prices increased by 3.16%, from ₦1,758.26 per litre.
Diesel Price Breakdown Across States
Benue State recorded the highest diesel price, with an average of ₦2,541.46 per litre, followed by Adamawa (₦2,355.32) and Plateau (₦2,236.42). On the lower end, Ondo State offered the cheapest diesel at ₦1,365.71 per litre, with Anambra (₦1,391.02) and Kogi (₦1,400.00) not far behind.
By zones, the South-South region posted the highest average diesel price at ₦1,963.86 per litre, while the South-West zone recorded the lowest at ₦1,618.74 per litre.
Implications for Households and Businesses
The continued rise in fuel prices is likely to intensify cost-of-living pressures on households, while businesses that rely heavily on fuel for operations—such as transportation, logistics, and manufacturing—may struggle with increased operational expenses.
As Nigeria navigates the ongoing liberalisation of the downstream petroleum sector and global energy market volatility, these price trends may further test the resilience of consumers and deepen the need for policy clarity on fuel subsidies and alternative energy support.