Nigeria posted the steepest rise in diesel prices worldwide between February and August 2026, with pump costs for Automotive Gas Oil climbing 82.7%, as a renewed domestic increase pushes retail prices in Abuja close to N2,000 per litre.
Key takeaways
- UNCTAD identified Nigeria as the country with the largest increase in diesel prices during the six-month period.
- Automotive Gas Oil prices in Nigeria rose by 82.7% from February to August 2026.
- Myanmar recorded the sharpest petrol-price increase, at 50.7%.
- Petrol prices also rose sharply in the United Arab Emirates, up 49.8%, and Malaysia, up 48.4%.
- Dangote Refinery has raised its diesel price by N100 per litre to N1,800.
Global energy shock hits developing economies hardest
The United Nations Conference on Trade and Development detailed the figures in its Geoeconomics of Development report, released over the weekend.
The report said the energy-price shock was felt around the world, but its domestic effects varied substantially. Developing economies, especially those in Africa and Asia, experienced the most severe increases in local fuel prices.
UNCTAD cautioned that more expensive energy erodes the real purchasing power of households and limits consumer spending, adding pressure to economies already facing higher living costs.
Fresh diesel increase in Nigeria
The findings come as diesel prices are again rising in Nigeria. Dangote Refinery increased its diesel price by N100 per litre over the weekend, taking the price to N1,800 per litre.
At retail filling stations in Abuja, diesel is currently being sold for between N1,920 and N1,990 per litre.
