Petrol Prices Fall, NBS Shows 10 Cheapest States To Buy Fuel
- A new report from the NBS has disclosed that the national average price of petrol decreased in July 2024
- This is the first decrease in two months, and the bureau stated that Zamfara, Yobe, and Kogi recorded the lowest prices
- Based on the report, Jigawa, Lagos, and Sokoto states had the highest average retail prices of petrol
Dave Ibemere, a journalist with Legit.ng, brings over a decade of business reporting experience and deep expertise in the Nigerian economy, stocks, and market trends.
The National Bureau of Statistics (NBS) disclosed that the average retail price paid by consumers for Premium Motor Spirit (PMS), commonly known as petrol, stood at N1,024.99 in July 2025.
This represents a 1.22% decrease when compared to the N1,037.66 average retail price reported in June 2025.
However, on a year-on-year basis, the July 2025 average price is a 33.02% increase compared to N770.54 in July 2024.
Source: Twitter
NB releases breakdown of petrol prices
According to the latest PMS Price Watch Report, Jigawa State recorded the highest average retail price at N1,107.52, followed by Lagos (N1,100.29) and Sokoto (N1,100.00).
Conversely, Zamfara (N884.63), Yobe (N950.60), and Kogi (N986.67) recorded the lowest average retail prices during the same period.
10 most expensive states to buy petrol in July 2025
- Jigawa: N1,107.52
- Lagos: N1,100.29
- Sokoto: N1,100.00
- Kebbi: N1,065.89
- Adamawa: N1,063.40
- Niger: N1,055.13
- Enugu: N1,054.59
- Delta: N1,047.20
- Kaduna: N1,045.23
- Ebonyi: N1,043.96
States with the cheapest petrol prices in July 2025
- Zamfara: N884.63
- Yobe: N950.60
- Kogi: N986.67
- Imo: N987.86
- Gombe: N990.00
- Nasarawa: N992.00
- Rivers: N994.32
- Ogun: N1,000.00
- Ekiti: N1,001.19
- Kano: N1,005.51
Zonal averages
- North West: 1035.85
- South West: 1031.07
- South East: 1025.74
- North Central: 1019.83
- South South: 1019.00
- North East: 1017.65
Source: Getty Images
Depots reduce petrol prices
In a similar trend, several depots across the country have reduced their petrol prices.
Latest data from Petroleumprice showed that as of Thursday, depots such as Aiteo, Bovas, Integrated Oil, and MRS TinCan were selling petrol at N820 per litre, slightly below Dangote’s price of N821 per litre.
Pinnacle traded marginally higher at N821.5, while Sahara aligned with the market at N821.
Other depots posted mixed movements: Rainoil Lagos (N840), Wosbab (N822), and Matrix Lagos (N822) recorded slight increases, while A.Y.M Shafa saw the steepest drop of N5, selling at N832.
Meanwhile, Ardova, AA Rano, and Rainoil Delta priced petrol between N820 and N838 per litre, with Sobaz standing out as the highest at N845.
NNPC petrol price falls to N865
Earlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) has slashed its petrol pump price across filling stations nationwide.
The same adjustment was observed at NNPC stations in Abuja as motorists paid on Thursday N890 per litre from the previous price of N925.
Nigeria is operating a deregulated market, and market forces now determine prices. The latest price movement is due to a drop in crude oil prices.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
