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Diesel Price Shoots Up by Over 180% in a Year

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CEM REPORT, ENERGY | The average price of diesel across Nigeria increased by a whopping 187.69% within a year.

This is as the average price of the product rose 1.34% within a month.

According to the January 2023 diesel price watch report released by the National Bureau of Statistics (NBS), the average price of diesel rose from N288.09 per litre in January 2022 to N828.82 per litre in January 2023.

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Also, the average price increased from N817.86 per litre as of December 2022 representing a 1.34% increase.

According to the NBS report, the Nigerians who paid the highest prices for diesel during the period under review are; Bauchi at N900 per litre, Benue at N885.71 per litre, and Adamawa at N866.67 per litre.

Meanwhile, those who paid the lowest for diesel during the period under review are; Bayelsa at N768.75 per litre, Edo at N788 per litre, and Akwa Ibom at N788.75 per litre.

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Prices by geopolitical zones: In the North Central region, the average price was N844.81 per litre, in the North West it was N814.92 per litre, in North East it was N832.44, in the South East, it was N835.41 per litre. Also, in the South West region, the average diesel price was N845.59 per litre, while in the South-South, it was N800.49 per litre.

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