Fuel price in Nigeria Today ~ September 2023
Fuel price in Nigeria Today ~ September 2023
Nigeria gasoline prices
| Nigeria Gasoline prices | Litre | Gallon |
| NGN | 617.000 | 2,335.598 |
| USD | 0.814 | 3.081 |
| EUR | 0.759 | 2.873 |
Fuel price in Nigeria TodayNigeria: The price of octane-95 gasoline is 617 Nigerian Naira per liter. For comparison, the average price of gasoline in the world for this period is 1021.75 Nigerian Naira.
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Current Fuel Price in Nigeria Today
Presently, the official pump price of petrol (PMS) in Nigeria is N617. The current Petrol Price in Nigeria today is N577 to N617/litre per litre for comparison
Description
Fuel prices in Nigeria have been steadily rising over the years. Several reasons both within and outside of Nigeria have contributed to this increase.
In this article, we will be discussing the fuel prices in Nigeria today.
Petrol Prices in Nigeria Today (September 2023)
Nigeria is the world’s sixth-largest petroleum exporter. Naturally, petroleum should be a significant export for the country. Indeed, petrol is a commodity that can easily define Nigeria’s economy.
Any change in the price of gasoline can have a significant impact on the nation’s micro and macroeconomic indexes. Its principal state, crude oil, is the nation’s economic backbone.
However, the country’s oil industry has had a long and turbulent history. This has caused variations in the price of gasoline over the years.
What is known is that due to the many uses petrol has, any increase will affect the people.
We will look at the current price of Petrol in Nigeria as well as the price evolution through time.
Current Price of Petrol in Nigeria
The Nigerian National Petroleum Company Limited (NNPCL) announced the newly revised pump pricing of petrol across the country on July 18, 2023, following the removal of the commodity’s subsidy.
Here are the current prices of petrol across the country:
- Presently, the official pump price of petrol (PMS) in Nigeria is N617.
- However, due to logistics and other factors that vary by location, the commodity presently goes for prices ranging from N560 to N700 per liter across the country.
- The over-the-country average price of petrol is presently N630 per liter.
Common Uses of Petrol in Nigeria
It has been used as a fuel for our transportation, a fuel to generate electricity to light our houses, power factories and machines, a raw material to produce fertilizer to boost food production and a raw material to produce plastic, which is used in a variety of everyday items.
Types of Fuel in Nigeria
Every engine makes use of a type of fuel specific to its design. Here is a list of petroleum products refined in Nigeria:
- Petrol
- Diesel
- Kerosene
- Liquid Petroleum Gas (LPG)
- Compressed Natural Gas (CNG)
The main fuel products in Nigeria are Petrol and Diesel because of their huge consumption in the country.
Thus, these two resources generate most of the revenue for the Nigerian government.
The product benefits
- Makes sure of the long-term cleanliness of the engine’s fuel supply system.
- Permits for easier and faster filling thanks to its anti-foaming additive.
- Aids in preventing rust and corrosion.
President Tinubu to Nigerians: There’ll be no more increase in fuel price
Despite the deregulation of the product, President Bola Tinubu has guaranteed Nigerians that there will be no more increases in petrol pump prices.
Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, disclosed this in Abuja while briefing journalists following a closed-door meeting with the president.
“The president wishes to reassure Nigerians that there will be no increase in the pump price of petroleum motor spirit anywhere in the country,” the spokesperson said. “We repeat, the president affirms that there will be no increase in the pump price of petroleum motor spirit.”
Mr Tinubu also admitted that inefficiencies in the downstream industry are contributing to the fuel pricing problem.
He pledged that any issues with the smooth distribution of petroleum products in the country would be handled as soon as possible.
People also ask
What is the petrol price in Nigeria today?
The current Petrol Price in Nigeria today is N577 to N617/litre per litre for comparison
How much is 1 liter of petrol in Nigeria today?
Petroleum Prices in Nigeria
| Petroleum Oil | Price in NGN |
| 1 Liter Gasoline/Petrol: | 617 NGN |
| 1 Liter Diesel Price: | 844.28 NGN |
| 1 Liter Kerosene Oil: | 1.561 NGN |
How much is 1 litre of petrol?
This means motorists will now pay R22. 11 for a liter of 95 Unleaded petrol at the coast and R22. 83 in the inland regions, where the slightly cheaper 93 Unleaded will now retail for R22.
How much is a litre of petrol in Nigeria 2023?
There are strong indications that the pump price of petrol will rise again, the third time in 10 weeks, as oil marketers indicate that the landing cost of petrol has risen 37.4 percent month on month, MoM, to N632.17 per litre in July 2023, from N460 per litre in June 2023.
How much is a litre of petrol in the USA?
| Related | Last | Unit |
| Gasoline Prices | 1.01 | USD/Liter |
How much is a gallon of petrol in Litre?
Thanks to the internet, I now do now know what exactly a gallon is: it’s 4.54609 liters.
How much is gas in Owerri?
Gas Prices in Owerri, Nigeria
| Transportation | Edit |
| Gasoline (1 gallon) | 624.59₦ |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | ? |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | ? |
How much is fuel in Ghana?
Ghana Diesel prices, 21-Aug-2023
| Ghana Diesel prices | Litre | Gallon |
| GHS | 13.970 | 52.882 |
| USD | 1.237 | 4.683 |
| EUR | 1.141 | 4.319 |
How many Liters is a full tank of petrol?
The average fuel tank capacity for cars is 50–60 L (12–16 US gal). The most common materials for fuel tanks are metal or plastic.
How much does it cost to fill 12kg of gas in Nigeria?
The average price of cooking gas in Nigeria in 2023
| Cylinder (kg) | Current Price |
| 10kg | ₦6,500 |
| 12kg | ₦7,800 |
| 12.5kg | ₦8,125 |
| 50kg | ₦32,500 |
What is the price of petrol in Nigeria in February 2023?
N263.76
The bureau said this in its “Premium Motor Spirit (Petrol) Price Watch” for February 2023 released on Monday.
The NBS said the average retail price paid by consumers for petrol in February 2023 was N263. 76, representing a 54.76% increase when compared to the value recorded in February 2022 (N170. 42).
Why is the price of diesel high in Nigeria?
“In Nigeria, the cost of crude oil; refining costs and profits; retailing, marketing, and distribution costs; taxes and government policies on diesel fuel price; and imbalances in the demand and supply of diesel fuel”
Fuel price increase in Nigeria
Despite the deregulation of the commodity, Nigerian resident Bola Tinubu has guaranteed Nigerians that there will be no more increases in the pump price of petrol.
Fuel news today ~ How is fuel in Nigeria today?
Nigeria: Octane-95 gasoline costs 617 Nigerian Naira per liter. For reference, the global average price of gasoline during this period is 1023.26 Nigerian Naira.
The graph below depicts the price of gasoline in the country in comparison to other countries. To see the costs in gallons, use the drop menu.
Fuel price in Port Harcourt today ~ Gas Prices in Port Harcourt, Nigeria
Port Harcourt, Nigeria — Following the increase in the price of Premium Motor Spirit, PMS, also known as petrol, the pump price in Port Harcourt has risen to N620 per liter.
NNPC fuel price today ~ How much is 1 litre of fuel in Nigeria today?
Petroleum Prices in Nigeria
| Petroleum Oil | Price in NGN |
| 1 Liter Gasoline/Petrol: | 617 NGN |
| 1 Liter Diesel Price: | 844.28 NGN |
| 1 Liter Kerosene Oil: | 1.561 NGN |
What is the petrol price in Nigeria today?
The current petrol price in Nigeria is between N577 and N617 per liter. By way of comparison,
How much does a gallon of petrol cost in Nigeria today 2023?
There are strong indications that the pump price of petrol will rise again, the third time in 10 weeks, as oil marketers indicate that the landing cost of petrol has risen 37.4 percent month on month, MoM, to N632.17 per litre in July 2023, from N460 per liter in June 2023.
What is the current price of gasoline in Lagos?
In Nigeria, the official pump price of petrol (PMS) is currently N617.
However, because of logistics and other factors that differ by area, the commodity currently sells for N600 to N700 per liter across the country.
The national average price of gasoline is currently N630 per liter.
Today’s NNPC fuel price near Lagos is 18 July 2023 — A trip to an NNPC filling station in Lagos’ Ikoyi district confirmed that the fuel price has been raised from N488 to N568 per liter
Fuel price in Lagos today ~ How much is fuel in Lagos now?
Here are the current gasoline prices in the United States: In Nigeria, the official pump price of petrol (PMS) is currently N617.
