Pump Price Of Petrol Rises By 22%

According to Ireporter Online, the National Bureau of Statistics (NBS) has revealed that the average retail price of Premium Motor Spirit (PMS), commonly known as petrol, increased to ₦1,288.54 per litre in March 2026. This marks a 22.55 per cent rise from ₦1,051.47 recorded in February 2026, and a 2.13 per cent increase compared to ₦1,261.65 in March 2025.

The report highlighted notable disparities across states, with Anambra recording the highest average petrol price at ₦1,441.22 per litre, followed by Sokoto at ₦1,377.55 and Borno at ₦1,375.16. On the lower end, Lagos recorded ₦1,162.71, while Ogun and Kaduna stood at ₦1,169.78 and ₦1,193.40 respectively. Regionally, the North-East posted the highest average price at ₦1,336.50, whereas the South-West recorded the lowest at ₦1,232.46.

In a related development, the average price of Automotive Gas Oil (diesel) rose to ₦1,648.08 per litre in March 2026, representing a 16.05 per cent increase from February’s ₦1,420.17 and a 3.05 per cent year-on-year rise. Ebonyi recorded the highest diesel price at ₦2,262.29, followed by Akwa Ibom and Osun. Kogi reported the lowest price at ₦1,383.40. Regionally, the South-East had the highest diesel cost, while the North-Central recorded the lowest.

The Bureau further noted a significant rise in cooking gas prices. The average cost of refilling a 5kg cylinder increased by 12.60 per cent to ₦7,655.73 in March 2026. Kaduna topped the list with the highest price, while Bauchi recorded the lowest. Similarly, the 12.5kg cylinder refill price rose by 15.62 per cent to ₦19,652.83, with Nasarawa recording the highest rate and Bauchi the lowest.