Petrol price rises to N1,288 per litre in March 2026, says NBS
The National Bureau of Statistics (NBS) has revealed that petrol and diesel prices surged to N1,288.54 per litre and N1,648.08 per litre in March 2026, respectively to reflect inflationary pressure on transport fuels.
NBS in its latest Premium Motor Spirit and Diesel Price Watch reports 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.
The NBS data shows a broad-based increase in fuel prices across both petrol and diesel markets.
Average petrol price rose by 22.55per cent month-on-month in March.
Year-on-year, petrol price increased by 2.13per cent 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 16.05per cent monthly increase and a 3.05per cent 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).
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.
