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NBS report shows 39.11% hike in diesel price in one year

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The National Bureau of Statistics, NBS, said the average retail price of a litre of diesel increased from N828.82 in January 2023 to N1,153.01 in January 2024.

This was contained in NBS’s Diesel Price Watch for January 2024, released on Wednesday.

The report said that the January 2024 price of N1,153.01 per litre amounted to a 39.11 per cent increase over the N828.82 paid in January 2023.

“On a month-on-month basis, the price increased by 2.34 per cent from the N1,126.69 per litre recorded in December 2023,” it added.

On state profile analysis, the report said the highest average price of diesel in January 2024 was recorded in Kebbi at N1,433.33 per litre, followed by Kogi at N1,300 and Abuja at N1,226.70.

It stated that the lowest price was recorded in Borno at N927.27 per litre, followed by Kano at N940.89 and Taraba at N988.33.

“In addition, the analysis by zones showed that the North-Central had the highest price of N1,205.11 per litre, while the North-East recorded the lowest price at N1,074.03.”

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