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Saturday, November 23, 2024

States with the Highest Cost of Diesel in Nigeria (July 2024)

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According to the Nigerian Bureau of Statistics (NBS) Automotive Gas Oil (AGO) Price Watch for July 2024, the states with the highest diesel prices per litre are:

  1. Taraba – ₦1,721
  2. Borno – ₦1,694
  3. Bauchi – ₦1,619
  4. Yobe – ₦1,610
  5. Adamawa – ₦1,576

These high prices reflect the significant costs of diesel in certain regions, likely due to factors like transportation challenges, supply chain issues, and local economic conditions.

Comparison

  • Lowest Diesel Prices:
    • Kogi – ₦1,181.31
    • Kano – ₦1,211.11
    • Osun – ₦1,246.82

Additional Insights

  • Average Retail Price Increase: The average retail price of diesel rose by 73.63% from ₦794.48 per litre in July 2023 to ₦1,379.48 per litre in July 2024.
  • Monthly Price Trend: There was a slight decrease of 5.71% from June 2024 (₦1,462.98) to July 2024.
  • Regional Prices:
    • North East Zone had the highest average price at ₦1,600.85.
    • South West Zone had the lowest average price at ₦1,266.57.
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