Nigeria’s petrol pump price declined by an average of ₦153 per litre within one year, easing pressure on households and transport operators, according to the latest data from the National Bureau of Statistics (NBS). The development points to a gradual recalibration in the downstream petroleum market, even as cost pressures remain evident across the economy.
The NBS PMS Price Watch Report for November 2025 shows that the average retail price of Premium Motor Spirit (PMS) dropped to ₦1,061.35 per litre in November 2025, from ₦1,214.17 recorded in the same month of 2024. This represents a 12.59 per cent year-on-year decline, translating to a ₦153 reduction at the pump.
Petrol price drops ₦153 per litre year-on-year
The year-on-year fall reflects improved supply conditions, increased market competition and gradual price adjustments following fuel subsidy reforms. Analysts say the decline signals a softening of fuel cost pressures compared to last year, although prices remain historically high.
However, the report also shows that petrol prices edged up on a month-on-month basis, rising by 0.86 per cent from ₦1,052.31 in October 2025 to ₦1,061.35 in November, highlighting lingering market volatility.
State price gaps expose distribution challenges
A state-by-state breakdown reveals persistent disparities in petrol prices nationwide. Borno State recorded the highest average pump price at ₦1,133.86 per litre, followed by Sokoto (₦1,118.83) and Kogi (₦1,111.00).
In contrast, Oyo (₦997.39), Nasarawa (₦1,015.12) and Lagos (₦1,021.14) emerged as the cheapest states to buy petrol, reflecting stronger distribution networks and closer proximity to supply hubs.
North East most expensive, South West cheapest
On a zonal basis, the North East remained the most expensive region to purchase petrol, with an average price of ₦1,084.04 per litre. The South West, at ₦1,036.12, continued to offer the lowest average prices nationwide, underscoring long-standing regional cost differences in fuel supply and access.
Energy analysts say sustaining the petrol price decline will depend on improved logistics, infrastructure investment and broader macroeconomic stability, particularly exchange rate management and supply security.