In January 2024, there was a 39.11% increase in the average retail price of Automotive Gas Oil (Diesel) year-on-year, rising from N828.82 per litre in the same month last year to N1153.01 per litre in January 2024.
Additionally, there was a 2.34% increase on a month-on-month basis, with prices rising from N1126.69 in December 2023 to N1153.01 in January 2024.
Data on the regional average prices for Automotive Gas Oil (Diesel) indicate that the North Central Zone recorded the highest price at N1205.11, whereas the North-East Zone reported the lowest price at N1074.03, in comparison to other zones.
The price of diesel varies across different due to certain factors such as transport, demand etc especially since the product has been deregulated.
Here are the ten states in the country where diesel was most expensive in January 2024
- Jigawa– The average retail price of diesel in Jigawa stood at N1,993.64 for the month under review. This represents a year-on-year increase of 45.27%, but the figure dropped by 2.88% between December 2023 and January 2024.
- Lagos-In January, a litre of diesel retailed for N1,999.79 across Lagos State, representing a year-on-year increase of 41.83% and a monthly rise of 3.63%.
- Gombe-In the period under review, the average price of 1 litre of diesel stood at N1,200.00. This figure remained unchanged from the previous month but witnessed a year-on-year increase of 48.15%.
- Ekiti– the price of a litre of diesel here stood at N1204.08 in January 2023. Year-on-year, it rose from N 841.18- representing a 43.14% increase. Diesel prices also saw a significant monthly increase of 21.30% to its current figure.
- Edo– the average price of diesel for January was N1204.08 per litre. It rose from N1187.50 in December 2023 marking a 1.89% rise. Yearly, the price of the product increased by 53.55% to the current figure.
- Niger– a litre of diesel in January sold for N1217.79. Yearly, it increased by 45.72% from N835.71 in the same period last year. Between December 2023 and January 2024, it rose by 14.62% to the current figure.
- Plateau– the average price of diesel per litre in this state for January was N1226.69. It increased by 44.32% and 14.80% yearly and monthly respectively
- Abuja– the nation’s capital saw a year-on-year increase in the price of diesel from N855.00 in January 2023 to N1226.70 in January 2024 representing a rise of 43.47% year-on-year. Between December 2023 and January 2024, the price jumped by 12.54% from 1090.00 to the current figure.
- Kogi– the price of diesel in January here was N1300.00 per litre- this represents a year-on-year increase of 43.47% from N833.33 to its current figure.
- Kebbi-In January, diesel prices in this state were the highest across the country, experiencing a significant rise of 76.23% to N1,433.33 between January 2023 and January 2024. On a monthly basis, the price increased by 14.67% from N1,250.00 recorded in December.
