Petrol cost averaged N1,051.47 per litre last month, according to the National Bureau of Statistics.

The National Bureau of Statistics has reported a marginal uptick in the average retail price of petrol, with a litre costing N1,034.76 in January and N1,051.47 in February.

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This development was outlined in the NBS's Premium Motor Spirit Price Watch for February, which was released in Abuja on Friday.

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A comparison of the two months reveals that the February price of N1,051.47 represents a 1.62 per cent increase over the January price of N1,034.76.

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However, on a year-on-year basis, the average retail price of petrol actually decreased from N1,245.80 in February 2025 to N1,051.47 in February, marking a 15.60 per cent decline.

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A state-by-state analysis shows that Yobe had the highest average retail price of N1,134.73 per litre, closely followed by Sokoto at N1,116.81 and Akwa Ibom at N1,109.44.

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In contrast, the lowest average retail prices were recorded in Lagos at N966.61, Oyo at N973.45, and Kaduna at N1000.07.

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Zone-wise analysis indicates that the North-East had the highest average retail price in February at N1,084.41, while the South-West had the lowest at N1,023.89.

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The NBS also released its Diesel Price Watch Report for February, which reported a 4.30 per cent month-on-month increase in the average retail price paid by consumers.

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The average retail price of diesel rose from N1,361.57 per litre in January 2026 to N1,420.17 per litre in February 2026.

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On a year-on-year basis, however, the price of diesel decreased by 5.39 per cent from N1,501.05 per litre in February 2025 to N1,420.17 in February 2026.

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A state-by-state analysis of diesel prices reveals that Lagos had the highest average price at N1,625.11 per litre, followed by Borno at N1,616.25 and Akwa Ibom at N1,587.19.

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The lowest diesel prices, on the other hand, were recorded in Ogun at N1,183.31 per litre, Kogi at N1,220.00, and Anambra at N1,256.76.

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Zone-wise analysis shows that the North-East had the highest diesel price at N1,496.49 per litre, while the North-Central Zone had the lowest price at N1,382.17 per litre.