The average retail price of Automotive Gas Oil (AGO) diesel rose by 37.76% in one year, according to the National Bureau of Statistics (NBS).
Its document tagged: “Automotive Gas Oil (Diesel Price Watch (December 2023),” said the price soared from N817.86/litre in December 2022 to N1126.69/litre in December 2023.
NBS said: “The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 37.76% on a year-on-year basis from a lower cost of N817.86 per litre recorded in the corresponding month of last year to a higher cost of N1126.69 per litre in December 2023.”
The document further noted that on a month-on-month basis, an increase of 6.74% was recorded from N1055.57 in the preceding month of November 2023 to an average of N1126.69 in December 2023.
In the period under review, said NBS, looking at the variations in the State prices, the top three States with the highest average price of the product, include Sokoto State (N1300.00), Kebbi/Yobe State (N1250.00) and Jigawa State (N1229.09).
NBS added that the top three lowest prices were recorded in the following States namely, Rivers State (N897.89), Bayelsa State (N935.00) and Bauchi State (N985.00).
The data explained that the Zonal representation of the average price of Automotive Gas Oil (Diesel) shows that the North West Zone has the highest price of N1227.31 while the South South Zone has the lowest price of N1039.90 when compared with other Zones.