Whether you drive a car, run a business, or just watch the news, the cost of fuel in Nigeria hits your wallet every day. This page pulls together the most useful info you need right now – from the newest price tables to the policies shaping the market.
As of the latest NIPCO release, premium gasoline is trading around ₦165 per litre, while diesel sits near ₦150 per litre. Prices can jump a few naira within a week, especially after the Central Bank adjusts the exchange rate or the government lifts a subsidy. Keep an eye on the daily bulletin from the Department of Petroleum Resources – it’s the quickest way to know what you’ll pay at the next station.
Three things drive the price roller‑coaster. First, the global crude oil price still matters because most of our gasoline and diesel come from imported refining. When Brent climbs, the cost of imported feedstock rises, and you feel it at the pump.
Second, exchange‑rate swings play a huge role. The naira’s value against the dollar directly affects how much money importers need to bring in fuel. A weaker naira means higher import costs, which usually pass on to consumers.
Third, government policies – subsidies, taxes, and the occasional fuel‑price deregulation – can cause sudden shifts. When the Ministry of Power lifts a subsidy, stations quickly adjust their posted prices.
Understanding these drivers helps you anticipate when prices might jump. For example, a spike in Brent oil during the summer months often coincides with a higher naira demand, so expect a price rise around June or July.
Now that you know what pushes prices up or down, here are a few practical ways to keep your fuel spend in check:
If you own a small business that relies on fuel, consider locking in a short‑term contract with a reputable supplier. Bulk purchases often come with a small discount and protect you against sudden price spikes.
Finally, stay informed about upcoming policy changes. The Ministry usually announces subsidy reviews a month in advance, giving you a window to stock up or budget accordingly. Signing up for the newsletter from the Nigerian Energy Incentive Programme can put those announcements straight in your inbox.
Bottom line: fuel prices in Nigeria move fast, but they’re not a mystery. By tracking the three main drivers – global oil, exchange rates, and government policy – and using a few everyday habits, you can keep your budget under control. Check back here regularly for the latest price tables, news updates, and more tips to stretch every naira at the pump.
The Nigerian National Petroleum Company (NNPC) has disclosed the estimated petrol prices from Dangote's refinery, with sales in naira to begin in October. Prices range from N950.22 to N1,019.22 per litre across various states. The refinery adheres to the market-driven pricing framework stipulated in the Petroleum Industry Act.
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