The average retail price of Premium Motor Spirit (PMS), commonly known as petrol, climbed to N1,596.25 per litre in May 2026, marking a 55.31% increase compared to N1,027.27 recorded in the same month last year, according to data released on Wednesday by the National Bureau of Statistics (NBS).
Month-on-month, the price also edged higher, rising 4.13% from N1,532.93 in April 2026, signalling continued upward pressure on fuel costs for Nigerian consumers.
A state-by-state breakdown reveals significant price disparities across the country. Edo State recorded the highest average retail price at N1,722.91 per litre, followed closely by Bauchi at N1,715.47 and Benue at N1,698.57.
Conversely, Adamawa, Katsina and Sokoto States had the lowest average retail prices for Premium Motor Spirit (Petrol), at N1,469.83, N1,470.63, and N1,489.33, respectively.
Regionally, the South-South Zone had the highest average retail price of N1,623.84, while the North-West Zone had the lowest price of N1,564.11.
The widening gap between high and low-price states underscores the logistical and supply chain challenges that continue to shape fuel distribution across Nigeria, particularly in states farther from major depots and refining infrastructure.
The persistent year-on-year increase comes amid ongoing debates about subsidy removal, foreign exchange pressure, and the performance of domestic refining capacity, all of which have weighed heavily on pump prices since 2023.
