The National Bureau of Statistics (NBS) has disclosed that the average retail price of Premium Motor Spirit (PMS), also known as petrol or fuel, rose to ₦1,288.54 per litre in March 2026.
The figure represents a 22.55 per cent increase compared to ₦1,051.47 recorded in February 2026, according to the bureau’s latest report.
The NBS also noted that the March 2026 price reflects a 2.13 per cent rise when compared to ₦1,261.65 recorded in March 2025.
A breakdown of the data showed significant variations across states.
Anambra recorded the highest average retail price of petrol at ₦1,441.22 per litre, followed by Sokoto at ₦1,377.55 and Borno at ₦1,375.16.
In contrast, Lagos recorded the lowest price at ₦1,162.71, while Ogun and Kaduna followed at ₦1,169.78 and ₦1,193.40, respectively.
On a zonal basis, the North-East had the highest average petrol price at ₦1,336.50, while the South-West recorded the lowest at ₦1,232.46.
The report further showed that the average retail price of Automotive Gas Oil (diesel) increased to ₦1,648.08 per litre in March 2026.
This represents a 3.05 per cent rise from ₦1,599.30 recorded in March 2025.
On a month-on-month basis, diesel price surged by 16.05 per cent from ₦1,420.17 in February 2026.
According to the NBS, Ebonyi recorded the highest average diesel price at ₦2,262.29, followed by Akwa Ibom at ₦1,895.72 and Osun at ₦1,872.15.
Kogi posted the lowest price at ₦1,383.40, while Katsina and Enugu recorded ₦1,438.25 and ₦1,480.06, respectively.
Zonal analysis showed that the South-East had the highest diesel price at ₦1,730.14, while the North-Central recorded the lowest at ₦1,593.11.
Cooking Gas Price Rises Sharply
The NBS also reported a sharp increase in the price of Liquefied Petroleum Gas (cooking gas).
The average cost of refilling a 5kg cylinder rose by 12.60 per cent to ₦7,655.73 in March 2026, up from ₦6,799.18 in February.
On a year-on-year basis, the price increased by 4.55 per cent from ₦7,322.49 recorded in March 2025.
Kaduna recorded the highest average price for refilling a 5kg cylinder at ₦9,212.21, followed by Lagos at ₦8,909.73 and Taraba at ₦8,802.78.
Bauchi had the lowest price at ₦6,295.40, while Osun and Ondo recorded ₦6,457.35 and ₦6,598.10, respectively.
Zonal analysis showed that the North-West recorded the highest LPG price at ₦8,137.81, while the South-South had the lowest at ₦7,300.95.
Similarly, the average price of refilling a 12.5kg cylinder rose by 15.62 per cent to ₦19,652.83 in March 2026, compared to ₦16,997.94 in February.
On a year-on-year basis, the price increased by 6.48 per cent from ₦18,456.24 recorded in March 2025.
Nasarawa recorded the highest price at ₦23,418.12, followed by Kaduna at ₦23,030.52 and Akwa Ibom at ₦22,816.74.
Conversely, Bauchi posted the lowest price at ₦15,738.50, while Osun and Ondo recorded ₦16,143.38 and ₦16,495.25, respectively.
