Petrol Price Hits ₦1,596 per Litre in May 2026

The average price Nigerians pay for petrol, known as Premium Motor Spirit (PMS), climbed to ₦1,596.25 per litre in May 2026. This increase shows the ongoing pressure of high fuel prices on families and businesses across Nigeria.

The National Bureau of Statistics (NBS) shared this in its Petrol Price Watch report released on Wednesday. The report shows that the average price went up by 55.31 percent compared to ₦1,027.76 in May 2025.

The new price also marks a 4.13 percent rise from the average of ₦1,532.93 per litre recorded in April 2026. The data shows that fuel prices are still going up despite some changes in prices during the last year.

A look at the monthly trend shows the national average was ₦1,037.66 per litre in June 2025. It dropped to ₦1,024.99 in July and ₦988.25 in August. The average price went down to ₦970.59 in September 2025, then increased to ₦1,052.31 in October and ₦1,061.35 in November.

In December 2025, the average price slightly decreased to ₦1,048.63 per litre. It was ₦1,034.76 in January 2026. Then, it rose slightly to ₦1,051.47 in February, jumped to ₦1,288.54 in March, and reached ₦1,532.93 in April. The rise continued in May, hitting ₦1,596.25 per litre.

Looking at state prices, Edo had the highest average petrol price at ₦1,722.91 per litre in May. Bauchi followed with an average of ₦1,715.47 per litre, while Benue residents paid ₦1,698.57 per litre.

On the lower end, Adamawa recorded the cheapest petrol price at ₦1,469.83 per litre. Katsina was next with ₦1,470.63 per litre. Sokoto had an average of ₦1,489.33 per litre.

These numbers show the big differences in petrol prices across the country. These differences come from transport costs, supply logistics, and market conditions.

When looking at regions, the South-South had the highest average petrol price at ₦1,623.84 per litre. The North-east was next with ₦1,622.76, while the South-East reported an average of ₦1,593.91.

The North-central zone had an average price of ₦1,589.92, slightly higher than the South-West at ₦1,588.96. The North-West had the lowest zonal average at ₦1,564.11 per litre.

This latest report shows that fuel prices continue to rise since the deregulation of the petroleum sector. Petrol prices are now much higher than they were a year ago.

For many families and businesses, this increase means higher transport and operating costs. This adds to the worries about the cost of living in Nigeria, Africa's largest economy.