The National Bureau of Statistics (NBS) has reported a fresh surge in energy prices, revealing that the average retail price paid by consumers for Premium Motor Spirit (petrol) rose to ₦1,288.54 in March 2026.
According to the latest Petrol Price Watch released by the bureau, the figure represents a 22.55 per cent increase compared to ₦1,051.47 recorded in February 2026, and a 2.13 per cent rise when compared with ₦1,261.65 recorded in March 2025.
On a state-by-state basis, Anambra State recorded the highest average petrol price at ₦1,441.22, followed by Sokoto State (₦1,377.55) and Borno State (₦1,375.16).
At the lower end, Lagos State, Ogun State and Kaduna State recorded the lowest average prices at ₦1,162.71, ₦1,169.78 and ₦1,193.40 respectively.
Regionally, the North-East recorded the highest average petrol price at ₦1,336.50, while the South-West posted the lowest at ₦1,232.46.
The report also showed an upward trend in diesel prices. The average retail price of Automotive Gas Oil rose to ₦1,648.08 per litre in March 2026, representing a 3.05 per cent year-on-year increase from ₦1,599.30 in March 2025. On a month-on-month basis, diesel prices jumped by 16.05 per cent from ₦1,420.17 in February 2026.
On state analysis, Ebonyi State recorded the highest diesel price at ₦2,262.29, followed by Akwa Ibom State (₦1,895.72) and Osun State (₦1,872.15). The lowest prices were recorded in Kogi State (₦1,383.40), Katsina State (₦1,438.25) and Enugu State (₦1,480.06).
The NBS noted that the South-East recorded the highest zonal average diesel price at ₦1,730.14, while the North-Central recorded the lowest at ₦1,593.11.
The cost of Liquefied Petroleum Gas (cooking gas) also continued its upward trend. The average price for refilling a 5kg cylinder rose by 12.60 per cent month-on-month, increasing from ₦6,799.18 in February 2026 to ₦7,655.73 in March 2026. Year-on-year, it rose by 4.55 per cent from ₦7,322.49 in March 2025.
On a state basis, Kaduna State recorded the highest average price for 5kg cooking gas at ₦9,212.21, followed by Lagos State (₦8,909.73) and Taraba State (₦8,802.78). The lowest prices were recorded in Bauchi State (₦6,295.40), Osun State (₦6,457.35) and Ondo State (₦6,598.10).
For the 12.5kg cylinder, the average price rose by 15.62 per cent month-on-month to ₦19,652.83 in March 2026, up from ₦16,997.94 in February. On a year-on-year basis, it increased by 6.48 per cent.
Nasarawa State recorded the highest price for 12.5kg cooking gas at ₦23,418.12, followed by Kaduna State (₦23,030.52) and Akwa Ibom State (₦22,816.74). The lowest prices were recorded in Bauchi State (₦15,738.50), Osun State (₦16,143.38) and Ondo State (₦16,495.25).