PETROL AND DIESEL PRICES RISE SHARPLY IN 2026

The average prices of petrol and diesel in Nigeria have increased by about 86 per cent in 2026, according to a fuel price trend report by PriceandPromo.

The report said the two products reached their highest average price levels for the year by September 22.

The increase reflects continued changes in the downstream petroleum market, where fuel prices have been affected by crude oil prices, exchange-rate movements and changes in domestic supply.

The report comes amid increased refining activity in Nigeria, including the expansion of output from the Dangote Petroleum Refinery.

Despite growing domestic refining capacity, the prices of petroleum products have continued to fluctuate as marketers adjust to changing market conditions.

The sharp rise in fuel costs has implications for businesses and households because petrol and diesel remain important inputs for transportation, power generation and other economic activities.

The latest figures highlight the continuing pressure from energy costs even as Nigeria’s downstream sector moves toward greater reliance on locally refined petroleum products.

The report’s September figures provide a snapshot of the price movement during the first eight months of the year and into the third quarter.