Nigeria’s inflationary pressure on transport fuels intensified in March 2026 as petrol and diesel prices surged to N1,288.54 per litre and N1,648.08 per litre respectively.
This is according to the latest Premium Motor Spirit and Diesel Price Watch reports released by the National Bureau of Statistics (NBS).
The report stated that the average price of petrol rose significantly on a monthly basis, while diesel prices also maintained an upward trajectory across states and geopolitical zones.
The development demonstrates persistent energy cost pressures that continue to feed into transportation and production costs nationwide.
What the data is saying
The NBS data shows a broad-based increase in fuel prices across both petrol and diesel markets.
- Average petrol price rose by 22.55% month-on-month in March.
- Year-on-year, petrol price increased by 2.13% from N1,261.65 in March 2025
- Average diesel price rose to N1,648.08 per litre in March from N1,420.17 in February
- This represents a 16.05% monthly increase and a 3.05% year-on-year rise
On a state-by-state basis, petrol prices showed wide variation.
Anambra recorded the highest average price at N1,441.22 per litre, followed by Sokoto (N1,377.55) and Borno (N1,375.16). Lagos recorded the lowest average price at N1,162.71, followed by Ogun (N1,169.78) and Kaduna (N1,193.40).
For diesel, Ebonyi recorded the highest average price at N2,262.29 per litre, followed by Akwa Ibom (N1,895.72) and Osun (N1,872.15). Kogi recorded the lowest at N1,383.40, followed by Katsina (N1,438.25) and Enugu (N1,480.06).
Regional patterns and market pressures
The report highlights significant regional disparities in fuel pricing, reflecting differences in logistics costs, distribution efficiency, and supply chain dynamics across the country.
- By geopolitical zone, the North-East recorded the highest average petrol price at N1,336.50 per litre, while the South-West recorded the lowest at N1,232.46. For diesel, the South-East had the highest average price at N1,730.14 per litre, while the North-Central zone recorded the lowest at N1,593.11.
Fuel pricing in Nigeria continues to be influenced by a combination of deregulation effects, transportation costs, and fluctuations in supply chain efficiency following recent reforms in the downstream petroleum sector.
The widening gap between state and regional averages also reflects the impact of distance from supply depots, infrastructure constraints, and varying levels of market competition among fuel distributors.
What you should know
In March, Nairametrics reported that residents of the Federal Capital Territory (FCT) raised concerns over rising transport fares following the recent increase in the pump price of petrol across the country.
Nairametrics observes that petrol, which was previously sold between N835 and N875 per litre in the FCT, is now being sold between N1,200 and N1,350, triggering immediate adjustments in transport fares by commercial vehicle operators.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said fluctuations in fuel pump prices are a direct result of market dynamics under Nigeria’s deregulated downstream petroleum sector.
