Petrol, diesel prices surge, deepen transport cost pressures —NBS

By Abubakar Yunusa

Nigeria’s inflationary pressure on transport fuels worsened in March 2026, as petrol and diesel prices climbed sharply across the country.
Latest data from the National Bureau of Statistics showed that petrol rose to an average of N1,288.54 per litre, while diesel surged to N1,648.08 per litre.
The report indicated that the rise in fuel prices continued to drive transportation and production costs nationwide.
On a month-on-month basis, petrol price increased by 22.55 per cent.
Year-on-year, the price rose marginally by 2.13 per cent from N1,261.65 recorded in March 2025.
Diesel prices also maintained an upward trend, rising from N1,420.17 per litre in February to N1,648.08 in March.
This represents a 16.05 per cent monthly increase and a 3.05 per cent rise compared to the same period last year.
A breakdown by states showed wide disparities in pricing.
Anambra recorded the highest petrol price at N1,441.22 per litre, followed by Sokoto and Borno.
Lagos posted the lowest average at N1,162.71, with Ogun and Kaduna also among the states with relatively lower prices.
For diesel, Ebonyi topped the chart at N2,262.29 per litre.
Akwa Ibom and Osun followed, while Kogi recorded the lowest price, ahead of Katsina and Enugu.
The data also revealed regional variations.
The North-East recorded the highest average petrol price at N1,336.50 per litre, while the South-West posted the lowest.
In the diesel market, the South-East recorded the highest average, while the North-Central zone had the lowest.
The NBS attributed the disparities to logistics challenges, distribution inefficiencies and supply chain constraints.
Analysts say the continued rise reflects the impact of deregulation and infrastructure gaps in the downstream petroleum sector.
They warn that the sustained increase could further squeeze household incomes and raise the cost of goods and services across the economy.