The National Bureau of Statistics (NBS) has reported a significant increase in fuel prices across Nigeria in July 2024. Diesel prices saw a dramatic year-on-year rise of 73.63%, while petrol prices increased by 28.35%.

Diesel Prices:

- Average price: N1,379.48 per litre (July 2024)

- Year-on-year increase: 73.63% from N794.48 (July 2023)

- Month-on-month decrease: 5.71% from N1,462.98 (June 2024)

Highest diesel prices:

1. Taraba State: N1,721.79

2. Borno State: N1,694.17

3. Bauchi State: N1,619.54

Lowest diesel prices:

1. Kogi State: N1,186.31

2. Kano State: N1,211.11

3. Osun State: N1,246.82

Zonal analysis shows the North-East with the highest average diesel price (N1,600.85) and the South-West with the lowest (N1,266.57).

Petrol Prices:

- Average price: N770.54 per litre (July 2024)

- Year-on-year increase: 28.35% from N600.35 (July 2023)

- Month-on-month increase: 2.72% from N750.17 (June 2024)

Highest petrol prices:

1. Katsina State: N950.00

2. Jigawa State: N903.08

3. Benue State: N846.95

Lowest petrol prices:

1. Kwara State: N650.00

2. Edo State: N669.75

3. Akwa Ibom State: N673.75

Zonal analysis reveals the North-West with the highest average petrol price (N820.10) and the South-South with the lowest (N678.30).

These price fluctuations highlight the ongoing challenges in Nigeria's fuel market, with significant regional disparities in both diesel and petrol prices.​​​​​​​​​​​​​​​​