Nigeria fuel prices climbed sharply in May 2026 with diesel up over 32 per cent and petrol rising 4 per cent, even as household kerosene saw a marginal decline, according to the latest NBS data

The National Bureau of Statistics released its latest energy price report on Wednesday, revealing that average retail prices of diesel and petrol increased significantly across Nigeria in May 2026, while the price of household kerosene experienced a slight decline.

According to the NBS data, the average retail price of Automotive Gas Oil, commonly known as diesel, jumped by 32.44 per cent month-on-month to ₦3,277.47 per litre in May from ₦2,474.69 in April.

Year-on-year, the price surged by a staggering 86.4 per cent from ₦1,758.26 recorded in May 2025.

Premium Motor Spirit, or petrol, also continued its upward trend, rising by 4.13 per cent month-on-month to ₦1,596.25 per litre from ₦1,532.93 in April.

Compared to the same period last year, petrol prices climbed by 55.31 per cent from ₦1,027.76 per litre.

In contrast, the average retail price of household kerosene fell marginally by 0.17 per cent to ₦2,971.94 per litre in May from ₦2,976.94 in April.

However, it remained substantially higher than a year earlier, up 36.62 per cent from ₦2,175.29 in May 2025.

State-level variations highlighted regional disparities. Nasarawa recorded the highest average diesel price at ₦3,785.84 per litre, while Kogi had the lowest at ₦2,823.85. For petrol, Edo topped the list at ₦1,722.91 per litre, with Adamawa posting the lowest at ₦1,469.83. Sokoto led in kerosene prices at ₦3,984.09 per litre, against Bayelsa’s ₦2,018.79.

Across geopolitical zones, the North-West bore the highest burden for both diesel and kerosene, while the South-South and South-West saw relatively lower averages for petrol and kerosene respectively.

This mixed movement in Nigeria fuel prices comes against a backdrop of ongoing economic reforms, subsidy removal effects, and global crude oil fluctuations that have continued to influence domestic costs since 2023.

Households and businesses, particularly transporters and farmers reliant on diesel, are likely to feel the pinch from the sharp increases, potentially feeding into higher transportation and goods prices in the coming weeks.

The NBS report provides a critical snapshot of living costs at a time when many Nigerians are navigating inflationary pressures.

While the modest relief in kerosene prices offers limited comfort for cooking and lighting needs, the broader surge in transport fuels underscores persistent challenges in the energy sector.