Gasoline Price

Price of Gasoline (Petrol Fuel) per Litre in Nigeria 2023

The price of Petrol in Nigeria has always been a thing of concern to Nigerians and the international community at large. This is because the Premium Motor Spirit also called Gasoline is currently one of the most consumed products in many countries of the world due to its daily need as fuel for vehicles, motorcycles and power generators. Apart from the popular 95-octane Gasoline, crude oil also gives rise to other petroleum products like Diesel, Kerosene, Liquefied Petroleum Gas (LPG), Jet Fuel etc. Read on to see their market price list.

You may have wondered what makes Petrol prices change like it does, the reason is not far from the forces of demand and supply at the international scene. Everyone knows Nigeria is one of the largest producers and exporters of crude oil in the world today. Surprisingly, when demand in the world’s Oil market is more than its supply, Nigerians suffer fuel scarcity that results in increased fuel costs. But when its demand falls, the reverse will usually be the case just like in March 2021 when the government signaled a slash in fuel prices due to the menace brought on world trades by the Viral disease. Another factor to consider are the interest unions or bodies influencing sale of Oil at the international level like the Organization of the Petroleum Exporting Countries (OPEC).

Prices of Gasoline in Nigeria 2023

Fuel – ₦350

Diesel (AGO) – ₦816

Kerosene – ₦1041.05

Cooking Gas (LPG) – ₦850

Engine oil – Mobil = ₦2,500 (Others = ₦1,500 – ₦1,900)

Acetylene gas – ₦1,000

Oxygen welding gas – ₦250

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