Petrol Prices Recorded Marginal Month-on-Month Decline in April 2025
The most recent Premium Motor Spirit or Petrol Price Watch published by the National Bureau of Statistics for April 2025 has indicated a notable year-on-year increase in the average retail price, underscoring ongoing inflationary pressures within the energy sector.
The average retail price that consumers paid was ₦1,239.33 per litre, representing a substantial rise of 76.73% compared to the ₦701.24 recorded in April 2024. However, on a month-on-month basis, prices experienced a slight decline of 1.77% from ₦1,261.65 in March 2025, suggesting a temporary price adjustment amidst broader market fluctuations.
Significant state-level price variations were evident, reflecting regional differences in distribution and logistics expenses. Imo State reported the highest average retail price for Premium Motor Spirit (Petrol) at ₦1,588.50 per litre, closely followed by Jigawa at ₦1,567.84 and Sokoto at ₦1,550.00. In contrast, the lowest prices were found in Yobe at ₦970.00, Kwara at ₦1,014.85, and Osun at ₦1,042.49, which may indicate a closer proximity to supply routes or more effective distribution systems.
To maintain energy affordability and stability, it is essential for stakeholders to focus on enhancing local refining capabilities and increasing transparency within the deregulated downstream sector.
Effective communication regarding pricing mechanisms, along with targeted interventions for vulnerable populations, will be vital in mitigating the effects of persistently high fuel prices on consumers.
