Diesel records steepest inflation at 86%, while petrol and kerosene also remain significantly higher than last year despite mixed monthly movements……
Nigeria’s major household and industrial fuels Premium Motor Spirit (petrol), Automotive Gas Oil (diesel), and household kerosene continued their upward price trend in May 2026, with consumers paying substantially more compared to the same period last year, according to the latest data from the National Bureau of Statistics (NBS).
The average retail price of petrol rose to ₦1,596.25 per litre in May, marking a 55.31 per cent increase from ₦1,027.76 recorded in May 2025. On a month-on-month basis, however, the increase was more moderate at 4.13 per cent compared to ₦1,532.93 in April.
Diesel recorded the most dramatic spike among the three fuels, with the average price climbing to ₦3,277.47 per litre in May 2026 from ₦1,758.26 a year earlier, an annual increase of 86.4 per cent. The product also saw a sharp monthly rise of 32.44 per cent from ₦2,474.69 in April.
The NBS noted that the sustained surge in diesel prices remains particularly significant given its heavy use by manufacturers, transport operators, and businesses dependent on self-generated power, making it a major driver of production and logistics costs.
Household kerosene, still widely used for cooking in many homes despite increased adoption of LPG, recorded a slower annual increase of 36.62 per cent, rising to ₦2,971.94 per litre from ₦2,175.29 in May 2025.
Unlike petrol and diesel, kerosene showed signs of easing on a monthly basis, slipping slightly by 0.17 per cent from ₦2,976.94 in April. The average price per gallon also fell more sharply by 10.8 per cent to ₦11,949.39, though it remained 40.88 per cent higher than a year earlier.
Despite mixed monthly movements across the three products, the broader year-on-year trend highlights sustained pressure on households and businesses, with energy costs remaining significantly elevated compared to 2025 levels.
State-level data revealed wide disparities in fuel pricing across the country. For diesel, Nasarawa recorded the highest average price at ₦3,785.84 per litre, followed by Plateau and Ebonyi. Kogi, Benue, and Kebbi recorded the lowest prices.
In the petrol market, Edo State recorded the highest average retail price at ₦1,722.91 per litre, followed closely by Bauchi and Benue. Adamawa, Katsina, and Sokoto posted the lowest averages nationwide.
For kerosene, Sokoto recorded the highest price at ₦3,984.09 per litre, while Bayelsa reported the lowest at ₦2,018.79.
Regional analysis showed further variation in fuel costs. The North-West recorded the highest average diesel price, while the South-West had the lowest. For petrol, the South-South posted the highest average, while the North-West remained the cheapest. In the kerosene market, the North-West again emerged as the most expensive zone, while the South-South recorded the lowest regional average.
Overall, the NBS figures underscore persistent fuel inflation across Nigeria, with diesel leading the surge and continuing to exert pressure on production costs, transport fares, and household energy spending.
