NBS Report: Diesel Price Up By 12.77% In One Year

Israel Adeleke

The National Bureau of Statistics (NBS) has released its Automotive Gas Oil (Diesel) Price Watch for September 2023, which reveals that the average retail price of diesel paid by consumers increased by 12.77% year-on-year and 4.27% month-on-month.

The organization published the data on its website, stating that it is the Executive summary for the Automotive Gas Oil (Diesel) Price Watch for September 2023.

According to the report, on a year-on-year basis, consumers paid an average of N890.80 per liter for diesel in September 2023, compared to N789.90 per liter in September 2022.

On a month-on-month basis, there was an increase of 4.27%, rising from N854.32 in the preceding month of August to an average of N890.80 in September 2023.

The report also revealed variations in the state prices of diesel, with Kano State having the highest average price of N967.78 per liter, followed by Anambra State with N950.95 per liter and Niger State with N950.55 per liter.

Conversely, the lowest average prices were recorded in Bayelsa State at N840.16 per liter, Katsina State at N840.55 per liter, and Rivers State at N840.82 per liter.

The zonal representation of the average diesel price showed that the South East Zone had the highest price of N918.06 per liter, while the South South Zone had the lowest price of N863.97 per liter when compared to other zones.

The data source is available on the [NBS website].

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