Nigeria’s fuel market continues to show signs of instability, with new data revealing a marginal increase in the price of petrol nationwide. Recent figures indicate that the cost of Premium Motor Spirit has edged upward, reflecting ongoing fluctuations in the energy sector.
The latest update shows that the average petrol price climbed to ₦1,051.47 per litre in February 2026, compared to ₦1,034.76 recorded in January. This represents a modest increase, signaling that despite previous declines, upward adjustments are still occurring in the short term.
Interestingly, when viewed over a longer period, the trend presents a different picture. Compared to February of the previous year, petrol prices have actually dropped significantly, suggesting that while monthly changes remain unpredictable, the broader trajectory shows some level of relief for consumers.
A closer examination across states reveals noticeable differences in pricing. Some regions are experiencing higher costs than others, highlighting uneven distribution patterns:
- The highest petrol prices were recorded in Yobe, followed closely by Sokoto and Akwa Ibom
- On the lower end, Lagos, Oyo, and Kaduna reported comparatively cheaper rates
These variations suggest that location continues to play a major role in determining how much consumers pay at the pump.
Gossip News Now reports that regional analysis further confirms this disparity. The North-East zone recorded the highest average petrol prices, while the South-West emerged as the most affordable region for fuel purchases. This gap reflects logistical challenges and supply chain differences affecting distribution nationwide.
Beyond petrol, diesel prices have also shown movement. On a month-to-month basis, the cost of diesel increased, rising from ₦1,361.57 per litre in January to ₦1,420.17 in February 2026. However, similar to petrol, diesel prices have decreased when compared to figures from the previous year.
State-level data for diesel also presents a mixed picture. While some areas face steep costs, others benefit from relatively lower prices. For instance, Lagos, Borno, and Akwa Ibom recorded some of the highest diesel rates, whereas Ogun, Kogi, and Anambra were among the states with more affordable prices.
From a regional standpoint, the North-East again recorded the highest diesel averages, while the North-Central zone posted the lowest, reinforcing the pattern of geographic disparities in fuel pricing.
Market Insight and Economic Impact
The latest fuel price movements highlight the ongoing volatility within Nigeria’s energy market. Even with year-on-year declines offering some relief, the frequent monthly increases continue to create uncertainty for businesses and households alike.
Rising fuel costs, even marginal ones, have a direct impact on transportation, production, and overall cost of living. This means that small increases at the pump can translate into higher prices for goods and services across the economy.
At the same time, the regional differences in pricing raise important questions about infrastructure, supply efficiency, and market regulation. Addressing these gaps could help create a more balanced and predictable pricing system nationwide.
Ultimately, while the figures suggest a mixed trend of both increases and declines, the broader concern remains stability. For many Nigerians, consistency in fuel pricing may be just as important as affordability itself.
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