Nigeria’s petrol prices surged sharply in April 2026, with the average retail price of Premium Motor Spirit (PMS) climbing to N1,532.93 per litre, underscoring the continued impact of deregulation, foreign exchange pressures, and rising distribution costs on consumers and businesses.
The latest Petrol Price Watch report released by the National Bureau of Statistics shows that fuel costs recorded significant increases on both a monthly and annual basis, further intensifying inflationary pressures across the economy.
According to the report, the average retail price of petrol rose by 18.97 per cent month-on-month, increasing from N1,288.54 per litre in March 2026 to N1,532.93 per litre in April.
On a year-on-year basis, petrol prices climbed by 23.69 per cent compared to the N1,239.33 per litre recorded in April 2025.
The increase highlights persistent challenges in Nigeria’s downstream petroleum sector, where market-driven pricing, logistics expenses, and foreign exchange volatility continue to influence pump prices.
The NBS data revealed significant disparities in fuel prices across states.
Yobe State recorded the highest average retail price at N1,599.05 per litre, followed by Edo State at N1,595.74 and Bauchi State at N1,589.07.
On the other hand, Niger State posted the lowest average price at N1,403.89 per litre, while Sokoto State and Katsina State recorded N1,404.16 and N1,406.28 per litre respectively.
Across Nigeria’s geopolitical zones, the South-South recorded the highest average petrol price at N1,566.76 per litre.
The North-West posted the lowest zonal average at N1,508.81 per litre.
Analysts attribute the regional differences to factors such as transportation costs, supply chain efficiency, infrastructure quality, proximity to fuel depots, and the level of competition among marketers.
