The National Bureau of Statistics (NBS) has revealed that the average retail price of Premium Motor Spirit (PMS), popularly known as petrol or fuel, rose by 33.02 per cent year-on-year to ₦1,024.99 per litre in July 2025 compared to the same period in 2024.
Despite the annual increase, the report showed a marginal decline on a month-on-month basis. Petrol prices dropped by 1.22 per cent when compared with June 2025, which recorded an average of ₦1,037.66 per litre.
According to the NBS “Petrol Price Watch” for July, Jigawa State recorded the highest average price nationwide at ₦1,107.52 per litre.
Lagos followed closely at ₦1,100.29, while Sokoto also sold at an average of ₦1,100.00 per litre.
At the other end of the spectrum, Zamfara residents paid the lowest average retail price of ₦884.63 per litre, followed by Yobe at ₦950.60 and Kogi at ₦986.67.
North West Records Highest Zonal Price
According to the NBS report, the zonal breakdown indicated that the North West had the highest average retail price at ₦1,035.85 per litre, while the North East zone recorded the lowest at ₦1,017.65.
Drop in Global Oil Prices Affects Local Market
Meanwhile, independent checks confirmed that the price of petrol is gradually dropping across major cities due to a reduction in global crude oil prices.
As of Monday, data from the international oil price tracker showed crude oil trading at $63.55 per barrel, while Brent crude stood at $67.69.
However, the retail pump price in Lagos currently ranges between ₦865 and ₦875 per litre, while residents of Abuja pay slightly higher between ₦890 and ₦910, Naija News understands.
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