A diesel pump at a filling station
BY Busola Aro
The National Bureau of Statistics (NBS) says the average price of automotive gas oil (AGO), also known as diesel, was N1,462.98 per litre in June.
In its automotive gas oil (diesel) price watch for June 2024 on Wednesday, the bureau said this represents an increase of 4.20 percent compared to N1,403.96 reported in May.
“The average retail price of automotive gas oil (diesel) paid by consumers increased by 79.32% on a year-on-year basis from a lower cost of N815.83 per litre recorded in the corresponding month of last year (i.e., June 2023) to a higher cost of N1462.98 per litre in June 2024,” NBS said.
“On a month-on-month basis, an increase of 4.20% was recorded from N1403.96 in the preceding month of May 2024 to an average of N1462.98 in June 2024.
“Looking at the variations in the state prices, the top three states with the highest average price of the product in June 2024 include Niger State (N1979.23), Cross River State (N1920.86), and Taraba (N1742.46).
“Furthermore, the top three lowest prices were recorded in the following states namely, Lagos state (N1210.77), Ogun state (N1239.17), and Abuja (N1240.00).”
Based on zonal representation, the bureau said the north-east zone has the highest average diesel price of N1,659.07; while the south-west zone has the lowest price of N1,280.54.
On April 23, Dangote Petroleum Refinery announced a reduction in prices of both diesel and aviation fuel to N940 and N980 per litre, respectively.
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