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The Digest:

The National Bureau of Statistics (NBS) has reported that the average national retail price of petrol increased by 33.02% year-on-year in July 2025. This rise, which has contributed to The Price Paradox, comes despite a month-on-month decrease and a recent drop in crude oil prices, leaving consumers to grapple with a complex and volatile market.

Key Points:
  • The national average petrol price rose by 33.02% year-on-year.
  • The average price per liter was N1,024.99 in July.
  • The price, however, decreased by 1.22% in June 2025.
  • Jigawa State had the highest price at N1,107.52 per liter.
  • Zamfara State had the lowest average price at N884.63.
  • The North West zone recorded the highest zonal average price.
  • Prices in Lagos and Abuja have reportedly dropped recently.
The NBS report reveals the complex dynamics of fuel pricing. The data highlights a significant long-term increase, underscoring the Price Paradox of a market that is both rising and falling at the same time.

Sources: Vanguard