Fuel Price Increased by 33% in July – NBS

 

It has been revealed that the national average retail price of Premium Motor Spirit (PMS), commonly known as petrol, rose by 33.02% year-on-year (YoY) to N1,024.99 in July 2025 compared to the same period in 2024.

 

This is according to a report by the National Bureau of Statistics (NBS).

 

On a month-on-month (MoM) basis, the average retail price decreased by 1.22% from N1,037.66 per litre recorded in June 2025.

 

According to the NBS Petrol Price Watch report for July 2025, Jigawa State recorded the highest average retail price at N1,107.52, followed by Lagos and Sokoto at N1,100.29 and N1,100.00 per litre respectively.

 

Conversely, Zamfara, Yobe, and Kogi states recorded the lowest prices at N884.63, N950.60, and N986.67 per litre respectively.

 

The report also showed that the North West zone recorded the highest average price at N1,035.85, while the North East zone had the lowest at N1,017.65.

 

Meanwhile, market checks indicated that petrol prices have continued to drop due to falling crude oil prices. Data obtained yesterday showed crude oil at $63.55 per barrel, while Brent crude stood at $67.69 per barrel.

 

Current pump prices were reported at N865–N875 per litre in Lagos and N890–N910 per litre in Abuja.