Petrol Prices Fall, NBS Shows 10 Cheapest States To Buy Fuel

Petrol Prices Fall, NBS Shows 10 Cheapest States To Buy Fuel

  • A new report from the NBS has disclosed that the national average price of petrol decreased in July 2024
  • This is the first decrease in two months, and the bureau stated that Zamfara, Yobe, and Kogi recorded the lowest prices
  • Based on the report, Jigawa, Lagos, and Sokoto states had the highest average retail prices of petrol

Dave Ibemere, a journalist with Legit.ng, brings over a decade of business reporting experience and deep expertise in the Nigerian economy, stocks, and market trends.

The National Bureau of Statistics (NBS) has revealed that the average retail price paid by consumers for Premium Motor Spirit (PMS), commonly known as petrol, stood at N1,024.99 in July 2025.

This represents a 1.22% decrease when compared to the N1,037.66 average retail price reported in June 2025.

However, on a year-on-year basis, the July 2025 average price is a 33.02% increase compared to N770.54 in July 2024.

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Petrol prices reduced across the country
Snapshot of petrol price in July compared to June Photo credit: NBS
Source: Twitter

NB releases breakdown of petrol prices

According to the latest PMS Price Watch Report, Jigawa State recorded the highest average retail price at N1,107.52, followed by Lagos (N1,100.29) and Sokoto (N1,100.00).

Conversely, Zamfara (N884.63), Yobe (N950.60), and Kogi (N986.67) recorded the lowest average retail prices during the same period.

10 most expensive states to buy petrol in July 2025

  • Jigawa: N1,107.52
  • Lagos: N1,100.29
  • Sokoto: N1,100.00
  • Kebbi: N1,065.89
  • Adamawa: N1,063.40
  • Niger: N1,055.13
  • Enugu: N1,054.59
  • Delta: N1,047.20
  • Kaduna: N1,045.23
  • Ebonyi: N1,043.96

States with the cheapest petrol prices in July 2025

  • Zamfara: N884.63
  • Yobe: N950.60
  • Kogi: N986.67
  • Imo: N987.86
  • Gombe: N990.00
  • Nasarawa: N992.00
  • Rivers: N994.32
  • Ogun: N1,000.00
  • Ekiti: N1,001.19
  • Kano: N1,005.51

Zonal averages

  • North West: 1035.85
  • South West: 1031.07
  • South East: 1025.74
  • North Central: 1019.83
  • South South: 1019.00
  • North East: 1017.65
New petrol prices emerge at filling stations
Petrol prices is on the decline with crude oil prices changing Photo credit: Bloomberg/contributor
Source: Getty Images

Depots reduce petrol prices

In a similar trend, several depots across the country have reduced their petrol prices.

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Latest data from Petroleumprice showed that as of Thursday, depots such as Aiteo, Bovas, Integrated Oil, and MRS TinCan were selling petrol at N820 per litre, slightly below Dangote’s price of N821 per litre.

Pinnacle traded marginally higher at N821.5, while Sahara aligned with the market at N821.

Other depots posted mixed movements: Rainoil Lagos (N840), Wosbab (N822), and Matrix Lagos (N822) recorded slight increases, while A.Y.M Shafa saw the steepest drop of N5, selling at N832.

Meanwhile, Ardova, AA Rano, and Rainoil Delta priced petrol between N820 and N838 per litre, with Sobaz standing out as the highest at N845.

NNPC petrol price falls to N865

Earlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) has slashed its petrol pump price across filling stations nationwide.

The same adjustment was observed at NNPC stations in Abuja as motorists paid on Thursday N890 per litre from the previous price of N925.

Nigeria is operating a deregulated market, and market forces now determine prices. The latest price movement is due to a drop in crude oil prices.

Source: Legit.ng

Authors:
Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.

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