Average retail price of petrol up by 55.31% to N1,596.25/litre, says NBS
The National Bureau of Statistics (NBS) on Wednesday revealed that the average retail price paid by consumers for Premium Motor Spirit (Petrol) in May 2026 stood at N1,596.25 per litre, representing a 55.31per cent increase from N1,027.65 per litre in May 2025.
The latest Premium Motor Spirit (Petrol) Price Watch report by the NBS noted that comparing the average price value with that of the previous month (i.e., April 2026), the average
retail price increased by 4.13per cent from N1,532.93.
In State profile analysis, the report disclosed that Edo State had the highest average retail price for petrol, at N1,722.91. Bauchi and Benue States were next, with N1,715.47 and N1,698.57, respectively.
“Conversely, Adamawa, Katsina and Sokoto States had the lowest average retail prices for petrol, at N1,469.83, N1,470.63, and N1,489.33, respectively.
“Lastly, on the Zonal profile, the South-South Zone had the highest average retail price of ₦1,623.84, while the North-West Zone had the lowest price of N1,564.11,”the report added.
