The National Bureau of Statistics (NBS) has revealed that the average retail price of Automotive Gas Oil, popularly called diesel, in Nigeria rose by 64.58 per cent year-on-year, reaching N1,406.05/litre in August 2024 compared to the N854.32/litre recorded in the same month last year.
The bureau made this known in its Automotive Gas Oil (Diesel) Price Watch Report for September 2024.
According to the report, on a month-on-month basis, an increase of 1.93 per cent was recorded from N1,379.48 in July 2024 to an average of N1,406.05 in August 2024.
The report highlighted that data was collected from over 10,000 respondents across 774 Local Government Areas in all 36 states and the Federal Capital Territory, Abuja.
It noted that significant regional variations were observed, with Kaduna, Bauchi, and Taraba States recording the highest average prices.
Kaduna topped the list at N1,930.79/litre, closely followed by Bauchi at N1,927.34 and Taraba at N1,638.14. In contrast, the lowest prices were reported in Lagos (N1,237.14), Ogun (N1,255.00), and Osun (N1,268.18) States.
A zonal analysis revealed that the North-East zone had the highest average price of N1,621.23, while the South-West Zone recorded the lowest at N1,283.47.
