The National Bureau of Statistics (NBS) has stated that the average retail price paid by consumers for Premium Motor Spirit (petrol) in March 2026 was ₦1,288.54, indicating a 22.55 per cent increase compared to ₦1,051.47 recorded in February 2026.
A report by the bureau also showed that the March price reflected a 2.13 per cent increase compared to the value recorded in March 2025 (₦1,261.65).
On state profile analysis, Anambra recorded the highest average retail price for petrol at ₦1,441.22, followed by Sokoto and Borno at ₦1,377.55 and ₦1,375.16, respectively.
Conversely, Lagos, Ogun and Kaduna recorded the lowest average retail prices at ₦1,162.71, ₦1,169.78 and ₦1,193.40, respectively.
On the zonal profile, the North-East recorded the highest average retail price at ₦1,336.50, while the South-West had the lowest at ₦1,232.46.
The report added that the average retail price of Automotive Gas Oil (diesel) paid by consumers increased by 3.05 per cent on a year-on-year basis, from ₦1,599.30 per litre recorded in March 2025 to ₦1,648.08 per litre in March 2026.
“On a month-on-month basis, an increase of 16.05 per cent was recorded from ₦1,420.17 in February 2026 to an average of ₦1,648.08 in March 2026. Looking at the variations in state prices, the top three states with the highest average price of the product in March 2026 include Ebonyi State (₦2,262.29), Akwa Ibom State (₦1,895.72) and Osun State (₦1,872.15).
“Furthermore, the top three lowest prices were recorded in the following states, namely Kogi State (₦1,383.40), Katsina State (₦1,438.25) and Enugu State (₦1,480.06). The zonal representation of the average price of Automotive Gas Oil (diesel) shows that the South-East recorded the highest price at ₦1,730.14, while the North-Central had the lowest at ₦1,593.11 compared to other zones.”
Also, the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) increased by 12.60 per cent on a month-on-month basis, from ₦6,799.18 recorded in February 2026 to ₦7,655.73 in March 2026.
It stated that on a year-on-year basis, the price rose by 4.55 per cent from ₦7,322.49 in March 2025.
On state profile analysis, Kaduna recorded the highest average price for refilling a 5kg cylinder of cooking gas at ₦9,212.21, followed by Lagos (₦8,909.73) and Taraba (₦8,802.78). In contrast, Bauchi recorded the lowest price at ₦6,295.40, followed by Osun (₦6,457.35) and Ondo (₦6,598.10), respectively.
“In addition, analysis by zone showed that the North-West recorded the highest average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) at ₦8,137.81, followed by the North-East at ₦7,890.53, while the South-South recorded the lowest at ₦7,300.95.
“Also, the average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (cooking gas) increased by 15.62 per cent on a month-on-month basis, from ₦16,997.94 in February 2026 to ₦19,652.83 in March 2026. On a year-on-year basis, this increased by 6.48 per cent from ₦18,456.24 in March 2025.”
On state profile analysis, Nasarawa recorded the highest average retail price for refilling a 12.5kg cylinder of cooking gas at ₦23,418.12, followed by Kaduna (₦23,030.52) and Akwa Ibom (₦22,816.74).
Conversely, the lowest average price was recorded in Bauchi at ₦15,738.50, followed by Osun (₦16,143.38) and Ondo (₦16,495.25), respectively.
