Nigeria fuel prices jump in May 2026: petrol N1,596/litre, diesel up 86% yearly

Nigeria's average retail price for petrol (PMS) rose to N1,596.25 per litre in May 2026, up 55.3% from N1,027.76 a year earlier and 4.1% higher than April's N1,532.93. Diesel jumped to N3,277.47/litre, an 86.4% yearly increase and 32.4% above April's N2,474.69. Kerosene eased slightly month-on-month to N2,971.94/litre but remained 36.6% above May 2025 levels.

These sustained price hikes raise transport and production costs, squeezing household budgets and profit margins for traders, manufacturers and transporters who rely on diesel for generators and trucks. State data show wide gaps: petrol is cheapest in Adamawa (N1,469.83/litre) and dearest in Edo (N1,722.91/litre); diesel peaks in Nasarawa (N3,785.84/litre) and is lowest in Kogi (N2,823.85/litre); kerosene costs most in Sokoto (N3,984.09/litre) and least in Bayelsa (N2,018.79/litre).

With energy costs still far above 2025 levels, will you cut non-essential trips, share rides, shift to more fuel-efficient vehicles, or explore alternative fuels like CNG or solar for home and business? Adjusting budgets and travel habits now can soften the blow of persistently high fuel prices.

SOURCE: https://www.channelstv.com/2026/06/30/petrol-climbs-55-kerosene-up-37-diesel-soars-86-in-one-year/