The most recent Premium Motor Spirit (Petrol) Price Watch, published by the National Bureau of Statistics (NBS) on Wednesday, shows that the average retail price paid by customers for Premium Motor Spirit (PMS), or gasoline, increased to N1,239.33 in April 2025.

The NBS research indicates that, despite recent measures to stabilise the downstream petroleum industry, fuel prices continue to fluctuate across different regions.

Compared to the N701.24 reported in April 2024, this rise represents a 76.73% year-on-year increase.

However, the average price decreased by 1.77% month-on-month, down from N1,261.65 in March 2025.

States with highest and cheapest fuel

At the state level, Imo State recorded the highest average retail price for PMS at N1,588.50. Jigawa and Sokoto States followed in second and third place, at N1,567.84 and N1,550.00 respectively.

The lowest average price was N970.00 in Yobe State, followed by N1,014.85 in Kwara and N1,042.49 in Osun States.

ChannelsTV reported that currently, petrol costs about N935 per litre in Abuja and N880 per litre in Lagos at retail.

According to the report, the South East zone had the highest average price at N1,341.71, while the South West had the lowest average at N1,138.64.

Here is a breakdown of zonal averages:

North Central: N1,242.94

South South: N1,222.54

North East: N1,166.27

South West: N1,138.64

South East: N1,341.71

North West: N1,325.90

This follows Dangote Refinery’s reduction of the ex-depot price of gasoline to N835 per litre in mid-April — its second price cut in as many weeks. Similar pricing trends were seen in Abuja and Lagos, where the refinery supplied gasoline at N890 per litre, down from N920.

Businesses and households cited exchange rates, transportation costs, energy prices, interest rates, and security concerns as the top five factors influencing inflation perception in April 2025, according to the Central Bank of Nigeria’s (CBN) most recent Inflation Expectation Survey Report.

The report found that energy prices — including those for gasoline, diesel, and electricity — had the greatest impact on inflation perception, with 91% of respondents citing it as a major factor. Throughout April, petrol prices varied between N870 and N920 per litre.