Petrol Price Jumps to N1,596 Per Litre in May

The National Bureau of Statistics (NBS) has reported a sharp rise in the average retail price of petrol from N1,027.76 in May 2025 to N1,596.25 in May 2026.

According to its Premium Motor Spirit Price Watch released on Wednesday in Abuja, the average price of a litre of petrol increased from N1,027.76 in May 2025 to N1,596.25 in May 2026.

The NBS said the report reflects ongoing changes in fuel pricing across the country over the one-year period.

National Bureau of Statistics (NBS). Credit: The Guardian Nigeria News.

It said the May 2026 price of N1,596.25 represented a 55.31 percent increase over the N1,027.76 recorded in May 2025.

“Comparing the average price with the previous month of April, the average retail price increased by 4.13 percent from N1,532.93. On state profile analysis, Edo recorded the highest average retail price at N1,722.91 per litre, followed by Bauchi at N1,715.47 and Benue at N1,698.57.”

“Conversely, Adamawa recorded the lowest average retail price at N1,469.83, followed by Katsina at N1,470.63 and Sokoto at N1,489.33,” it said.

The analysis by geopolitical zone revealed that the South-South recorded the highest average retail price in May at N1,623.84, while the North-West recorded the lowest at N1,564.11.

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