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- New data from the National Bureau of Statistics has revealed that the average price of diesel has increased
- Just like petrol, NBS noted that filling stations across the country have adjusted their pump to reflect new prices
- The top three states with the highest average price of the product in August 2024 include Kaduna State, Bauchi State, and Taraba
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The National Bureau of Statistics (NBS) has disclosed that the average retail price of automotive gas oil (diesel) increased to N1,406.05 per litre in the month of August 2024.
The new diesel price indicates a 64.58% increase compared to the average diesel pump price of N854.32 per litre recorded in August 2023.
Source: Getty Images
The bureau also noted that the price in August 2024, on a month-on-month basis, increased by 1.93% when compared to N1,379.48 per litre paid in July 2024.
NBS stated this in its latest Automotive gas oil (Diesel) price watch report, published on its website and obtained by Legit.ng.
Diesel is cheapest in the western states
Furthermore, the NBS provided a breakdown of state-by-state analysis, showing that northern state residents paid the highest amount for diesel at filling stations.
Kaduna State led with an average price of N1,930.79 per litre, followed closely by Bauchi State at N1,927.34 and Taraba at N1,638.14.
Conversely, southern states recorded the lowest prices. Lagos State had the cheapest diesel, with an average of N1,237.14 per litre, followed by Ogun State at N1,255 and Osun State at N1,268.18.
On a zonal basis, the North East had the highest average diesel price in August 2024, with consumers paying N1,621.23 per litre.
Meanwhile, the South West Zone enjoyed the lowest prices, with an average of N1,283.47 per liter.
Here are the ten most expensive states to buy diesel
- Kaduna: N1,930.79
- Bauchi: N1,927.34
- Taraba: N1,638.14
- Gombe: N1,615.00
- Sokoto: N1,575.00
- Adamawa: N1,528.60
- Borno: N1,513.65
- Yobe: N1,504.63
- Plateau: N1,489.26
- Nassarawa: N1,408.02
NNPC slash Dangote petrol price for marketers
Legit.ng earlier reported that 11Plc, TotalEnergies, AA Rano, and other marketers have started lifting Dangote petrol through the Nigerian National Petroleum Company (NNPC) Trading Limited for distribution to retail outlets nationwide for N765.99 per litre.
On Thursday, September 19, 2024, Tunji Oyebanji, the managing director of 11Plc, confirmed the development.
The new prices are far lower than the N898 per litre NNPCL announced for Dangote petrol when it was lifted from the refinery.
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Source: Legit.ng
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