Petrol Consumption Plunges to 37.6m Litres Daily as Nigerians Feel Price Pain

Nigeria recorded a significant decline in the daily consumption of petrol, diesel and aviation fuel in July, amid rising energy prices and growing pressure on consumers and businesses.

According to data contained in the July Fact Sheet released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, petrol consumption fell by 25 per cent during the month.

The regulator’s figures showed that daily Premium Motor Spirit consumption dropped from 47.4 million litres per day in June to 37.6 million litres per day in July.

Diesel consumption also declined by nine per cent, falling from 16 million litres per day to 14.7 million litres per day within the same period.

The aviation sector recorded an even sharper contraction, with daily consumption of Aviation Turbine Kerosene dropping by 41 per cent from 2.9 million litres to 1.7 million litres.

The declines came against the backdrop of higher prices for petroleum products, which have continued to affect household spending, transportation, businesses and other economic activities across the country.

While consumption of petrol, diesel and aviation fuel dropped, Liquefied Petroleum Gas, commonly known as cooking gas, recorded an increase. Daily LPG consumption rose by seven per cent, from 3.8 kilotonnes to 4.1 kilotonnes.

Available market data showed that petrol prices in July ranged between N1,131 and N1,350 per litre, while diesel sold between N1,440 and N1,670 per litre. Aviation fuel prices also remained elevated, ranging from N1,750 to N2,650 per litre.

The latest figures highlight the growing impact of high energy costs on fuel demand in Nigeria, as consumers and businesses increasingly adjust their consumption patterns in response to rising prices.