The average retail price for Premium Motor Spirit (PMS), commonly known as petrol, stood at N1,239.33 per litre in April 2025, according to the National Bureau of Statistics. This marks a 76.73% increase compared to N701.24 recorded in April 2024, despite a 1.77% month-on-month decline from March’s average of N1,261.65.
Imo State recorded the highest average price at N1,588.50, followed by Jigawa and Sokoto with N1,567.84 and N1,550.00, respectively. Yobe had the lowest average at N970.00. At zonal level, the South East topped the chart at N1,341.71, while the South West posted the lowest at N1,138.64.
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The price volatility follows two recent cuts in the ex-depot price of petrol by Dangote Refinery. The refinery sold at N890 in Lagos in mid-April, down from N920 per litre. In Abuja, similar reductions were observed, though consumer prices remain high.
Meanwhile, a CBN inflation survey revealed that 91% of respondents cited energy prices—including petrol, diesel and electricity—as a primary driver of inflation perception. Inflation eased slightly in April to 23.71% from 24.23% in March, offering a glimpse of recovery.
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