Petrol price stands at N1,051.47 per litre in February – NBS

The National Bureau of Statistics (NBS) says the average retail price of a litre of petrol witnessed a slight increase from N1,034.76 in January to N1,051.47 in February.

The NBS said this in its Premium Motor Spirit (Petrol) Price Watch for February released in Abuja on Friday.

It said that the February price of N1,051.47 represented a 1.62 per cent increase over the price of N1,034.76 recorded in January.

It, however,said that the average retail price of petrol decreased on a year-on-year basis from N1,245.80 recorded in February 2025 to N1,051.47 in February.

“The February price of N1,051.47 represents a 15.60 per cent decrease over the price of N1,245.80 recorded in February 2025.

“On state profiles analysis, Yobe paid the highest average retail price of N1,134.73 per litre, followed by Sokoto at N1,116.81 and Akwa Ibom at N1,109.44.

“Conversely, Lagos paid the lowest average retail price of N966.61 followed by Oyo at N973.45 and Kaduna at N1000.07,” it said.

Analysis by zone, showed that the North-East recorded the highest average retail price in February at N1,084.41, while the South-West recorded the lowest at N1,023.89.

The NBS also said, in its Diesel Price Watch Report for February, that the average retail price paid by consumers increased by 4.30 per cent on a month-on-month basis.

It said that the retail price increased from a lower cost of N1,361.57 per litre recorded in January 2026 to a higher cost of N1,420.17 per litre in February 2026.

“However, on a year-on-year basis, the price decreased by 5.39 per cent from N1,501.05 per litre recorded in February 2025 to an average of N1,420.17 in February 2026.”

On state profiles analysis, it said that the highest average price of diesel in February was recorded in Lagos at N1,625.11 per litre, followed by Borno at N1,616.25 and Akwa Ibom at N1,587.19.

“On the other hand, the lowest price was recorded in Ogun at N1,183.31 per litre, followed by Kogi at N1,220.00 and Anambra at N1,256.76.

“In addition, the analysis by zone showed that the North-East had the highest price at N1,496.49 per litre, while the North-Central Zone recorded the lowest price at N1,382.17 per litre.”