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Petrol Price Hits New High Despite Global Oil Drop.
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Jigawa records highest price, Zamfara lowest, says NBS.
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Global oil drop brings slight relief in Nigerian cities.
The National Bureau of Statistics (NBS) has reported that the average retail price of Premium Motor Spirit (PMS), popularly known as petrol, surged by 33.02 per cent year-on-year to ₦1,024.99 per litre in July 2025. This marks a sharp rise compared to the same period in 2024.
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EKO HOT BLOG reports that despite the annual increase, the bureau noted a slight month-on-month relief, with prices dropping by 1.22 per cent from June 2025, when the average stood at ₦1,037.66 per litre.
According to the July “Petrol Price Watch” released by the NBS, Jigawa State recorded the highest average price at ₦1,107.52 per litre, followed by Lagos at ₦1,100.29 and Sokoto at ₦1,100.00. On the other hand, Zamfara residents enjoyed the lowest average price at ₦884.63 per litre, with Yobe and Kogi following at ₦950.60 and ₦986.67 respectively.
The report further showed that the North West recorded the highest zonal average retail price at ₦1,035.85 per litre, while the North East had the lowest at ₦1,017.65 per litre.
Independent market checks revealed that petrol prices are gradually easing in major Nigerian cities, a trend linked to the recent drop in global crude oil prices.
As of Monday, international oil trackers showed crude oil trading at $63.55 per barrel, while Brent crude stood at $67.69. Reflecting this, pump prices in Lagos currently range between ₦865 and ₦875 per litre, while residents in Abuja are paying slightly higher, between ₦890 and ₦910.
