…As Diesel Price Hits N1,398 Per Litre M-o-M
The National Bureau of Statistics (NBS) reported on Tuesday that the average retail price of Premium Motor Spirit (PMS) popularly known as petrol, fell to N1,052.31 per litre in October this year, down from N1,184.83 recorded in October 2024, representing 11.18% year-on-year decline in the pump price of product.
The statistics agency, in its ‘Petrol Price Watch October 2025’ report, however disclosed that despite the Y-o-Y drop in the pump price of the commodity, the pump price increased on a monthly basis as it sold for N970.59 per litre in September 2025, indicating an 8.42 per cent month-on-month increase.
A breakdown of petrol prices across the states showed that it sold at the highest price in Kogi State with an average retail price at N1,110.00 per litre, followed by Sokoto at N1,105.93 per litre, while Borno ranked third with an average of N1,101.63 per litre.
Conversely, the NBS reported that Oyo recorded the cheapest pump price at N1,001.79, followed by Nasarawa at N1,009.38, and Abia at N1,012.50 per litre.
Similarly, the report also showed notable differences across geopolitical zones with the North-East zone recording the highest zonal average pump price of N1,072.74 per litre, while the South-West consumers bought at the lowest price, averaging N1,032.81 per litre during the month under review.
Also, in its ‘Diesel Price Watch for October 2025’ report, the statistics agency reported that the average retail price of Automotive Gas Oil (Diesel) stood at N1,398.57 per litre in October, representing 2.96% year-on-year decline, as it exchanged at N1,441.28 per litre in October 2024.
However, the report reflected that month-on-month, diesel prices rose in October this year by 9.45% when compared to the N1,277.81 per litre it sold for in September 2025.
The report further revealed that Enugu State had the highest average diesel price in October at N1,468.29 per litre, followed by Niger State with N1,465.69, and Jigawa with N1,437.40 per litre.
According to the report, lowest diesel prices were recorded in Katsina, Edo and Kebbi, where consumers paid N1,301.24, N1,307.84, and N1,308.94 per litre, respectively for the product in October this year.
Analysis of the pump prices of AGO per litre in the geopolitical markets showed that it sold at the highest average price per litre in the South-East at N1,415.85 compared to the South-South zone where it sold at the lowest price of N1,387.18 per litre in the month under review.