The National Bureau of Statistics (NBS) has said the average retail price of automotive gas oil (AGO), also known as diesel, dropped to N1,379.48 per litre in July.
The NBS in its Automotive Gas Oil (diesel) Price Watch for July 2024, the organisation stated that average price decreased month-on-month by 5.71 percent but increased by 73.63 percent year-on-year.
“The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 73.63% on a year-on-year basis from a lower cost of N794.48 per liter recorded in the corresponding month of last year (i.e., July 2023) to a higher cost of N1379.48 per liter in July 2024,” the bureau said.
“On a month-on-month basis, a decrease of 5.71% was recorded from N1462.98 in June 2024 to an average of N1379.48 in July 2024.”
In its state analysis, NBS said Taraba recorded the highest average price of the product in July at N1721.79, while Borno and Bauchi reported N1694.17 and N1619.54, respectively.
“Furthermore, the top three lowest prices were recorded in the following State namely, Kogi State (N1186.31), Kano State (N1211.11), and Osun (N1246.82),” NBS added.
However, in its zonal report, the northeast had the highest price of N1600.85, while the southwest had the lowest price of N1266.57.
