Petrol Price Climbs 55.31% To N1,596/Litre In May 2026
- The NBS has revealed that Nigerians paid an average of N1,596.25 per litre for petrol in May 2026
- Edo, Bauchi, and Benue recorded the highest petrol prices as consumers faced rising fuel costs
- The South-South recorded the highest average petrol price, while the North-West had the lowest in May
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The National Bureau of Statistics (NBS) has revealed that the average retail price of Premium Motor Spirit (PMS), commonly known as petrol, increased by 55.31% year-on-year to N1,596.25 per litre in May 2026.
According to the latest petrol price watch report released by the statistics agency, the figure rose from N1,027.76 per litre recorded in May 2025.
Source: Getty Images
The report also showed that petrol prices increased by 4.13% month-on-month, rising from N1,532.93 per litre in April 2026 to N1,596.25 per litre in May.
The increase represents continued pressure on fuel costs, driven by higher supply expenses, market conditions, and distribution challenges across the country.
The rise in petrol prices has placed additional pressure on transportation costs, logistics expenses, and household spending nationwide.
State-level petrol price breakdown
State-level analysis showed significant variations in petrol prices, with Edo State recording the highest average retail price in May 2026.
Edo recorded the highest petrol price at N1,722.91 per litre, followed by Bauchi at N1,715.47 and Benue at N1,698.57.
Other states with high petrol prices included Gombe at N1,686.37, Delta at N1,667.68, and Yobe at N1,665.91.
Meanwhile, Adamawa recorded the lowest average petrol price at N1,469.83 per litre.
Katsina and Sokoto followed with average prices of N1,470.63 and N1,489.33, respectively.
States with highest petrol prices (May 2026)
- Edo: N1,722.91
- Bauchi: N1,715.47
- Benue: N1,698.57
- Gombe: N1,686.37
- Delta: N1,667.68
- Yobe: N1,665.91
- Abia: N1,653.91
- Jigawa: N1,650.99
- Taraba: N1,647.94
- Oyo: N1,639.97
States with lowest petrol prices (May 2026)
- Adamawa: N1,469.83
- Katsina: N1,470.63
- Sokoto: N1,489.33
- Anambra: N1,519.72
- Niger: N1,538.33
Source: Getty Images
Zonal petrol price performance
The South-South recorded the highest average petrol price among Nigeria’s six geopolitical zones in May 2026.
The zone recorded an average retail price of N1,623.84 per litre, while the North-West recorded the lowest zonal average at N1,564.11 per litre.
Depots cut petrol prices as landing cost falls again
Earlier, Legit.ng reported that petroleum marketers in Nigeria have started reducing depot prices for Premium Motor Spirit (PMS), also known as petrol, following another decline in the landing cost of imported fuel, a move that could lead to lower pump prices for consumers.
Recent market information showed that some major depots in Lagos adjusted their ex-depot prices downward by between N1 and N18 per litre, as suppliers respond to increased competition and shifts in the downstream petroleum sector.
Source: Legit.ng
