Petrol price drops 18% YoY to N1,034.76 in January 2026
Average retail petrol price falls 18% year-on-year to N1,034.76 in January 2026, down from N1,258.34 in January 2025. Month-on-month decline of 1.32% from December's N1,048.63. NBS data shows significant state variations: Cross River leads at N1,171.77/litre while Ekiti records lowest at N946.90/litre. South-South Zone highest average N1,076.04 vs South-West lowest N1,009.30. NNPC adjusts Abuja/Lagos prices to N839/N835/litre up from N785. Dangote Refinery increases gantry price to N799/litre post-festive season. Refinery expands access by lowering minimum order to 250,000 litres. Inflation moderates to 15.10% in January 2026. Oil marketers refute claims of below-N739 sales at Dangote stations.