The NBS said that the highest average retail price was recorded in the South-East at N306.86, while the North-Central had the lowest at N215.01.
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What is the average price of fuel in Nigeria? ›
Nigeria's average petrol price stands at $0.722 (N660. 25), as of January 8 2024. The report also highlighted the substantial disparities in petrol prices influenced by the diverse taxes and subsidies on fuel production within individual countries.
Why is petrol price increasing in Nigeria? ›Crude oil effect
Also speaking, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, attributed the rise in price to the global crude oil price increase.
Today Petrol Price in UP is INR 95.06 per liter and Today Diesel Price in UP is INR 88.19 per liter. UP has the largest population among the Indian states.
How much is a litre of petrol? ›The latest fuel prices, as of March 2023, are 142.97p per litre for petrol and 152.69p for diesel.
How much is 1 liter of petrol in Nigeria? ›Average petrol prices in Nigeria 2019-2024
As of January 2024, the average price of gasoline in Nigeria was 668.3 Nigerian naira (NGN) per liter, around 0.41 U.S. dollars.
A new report has revealed vast differences in gasoline costs across the world, with Nigeria ranked 22nd in the cheapest petrol price category globally. The report titled 'Global Petrol Prices, Octane-95, January 1, 2024', as posted on their website, also revealed some countries paying over 100 times more for petrol.
Why is oil expensive in Nigeria? ›Mele Kyari, group CEO of Nigerian National Petroleum Company (NNPC) Ltd, blamed the high average cost of production per barrel on insecurity and other sundry issues. “Security means everything to the oil and gas sector. Insecurity doesn't stop the oil and gas industry from operating.
Why is there fuel scarcity in Nigeria? ›Inadequate Refining Capacity: Nigeria's dependency on imported refined petroleum products is a major factor contributing to fuel scarcity. Despite being an oil-rich nation, Nigeria has limited refining capacity, which leads to the need to import refined products, such as gasoline and diesel.
How much is diesel per litre in Nigeria 2024? ›Executive Summary. The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 39.11% on a year-on-year basis from a lower cost of N828. 82 per litre recorded in the corresponding month of last year to a higher cost of N1153. 01 per litre in January 2024.
Which country has the cheapest petrol? ›Venezuela is the world's cheapest country to buy petrol, where amazingly it costs just 2 pence (GBP) a litre. This is because it's home to some of the biggest oil reserves in the world. But it's also a country where income is very low too.
Which country has highest petrol price? ›
Here's a list of the top 10 countries with the highest fuel prices. Hong Kong, a special administrative region of China, holds the distinction of having the world's highest petrol price, at Rs 242.5 per litre—more than double what is paid in India for the same quantity.
How much is 1 gallon of petrol in USA? ›Today's average price of gas in the U.S. is $3.68 per gallon, unchanged from yesterday, up $0.04 from last week and up $0.14 from last month.
How many gallons are in a litre of petrol? ›1 litre of petrol is 0.21996925 gallons.
How do you calculate fuel cost? ›Thus, the mileage of the car is 510/30 = 17 km/l. So, if Ramesh has to plan his next trip of 340 Km and the cost of the petrol is Rs. 120/litre, he can estimate the cost using the fuel cost calculator as (340/17) *120= 2400 INR, so he will keep aside a provision of Rs. 2400 for the cost of fuel during the trip.
Is a 1 Litre petrol good? ›1.0-1.2 Litre Engines
You'll get a good fuel economy out of them, as the smaller capacity means less fuel is used. This is great if you mainly do a lot of stop/start driving, such as in a city where there are lots of traffic lights, or if you usually make short journeys.
As an oil-producing nation, Nigeria heavily relies on crude oil for its revenue. The price of crude oil in the international market directly affects the cost of importing refined petroleum products into the country. The price of crude oil is the most important factor that will determine the price of fuel.
What is the cost of 1 litre diesel? ›The price for Diesel (per litre) today is ₹92.15.
How much petrol is consumed in Nigeria per day? ›Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), says the country's domestic consumption for petrol has significantly dropped from 66.7 million liters, before the deregulation, to 44.3 million liters per day.