Nigeria records world’s highest diesel price increase at 82.7% – Report
Nigeria recorded the world’s highest diesel price increase, at 82.7%, between February and August 2026, according to the United Nations Conference on Trade and Development (UNCTAD). The post Nigeria records world’s highest diesel price increase at 82.7% – Report appeared first on Nairametrics .
Nigeria has experienced the most significant surge in diesel prices globally, with an increase of 82.7% between February and August 2026, according to the United Nations Conference on Trade and Development (UNCTAD). This sharp rise in diesel costs, the fourth-highest among countries analyzed, outpaced petrol prices, which surged by 48.1% during the same period.
Lebanon saw the second-largest diesel price increase at 73.6%, while Peru and Guatemala followed with 66.7% and 66.3% increases, respectively. In contrast, Myanmar led the world in petrol price hikes at 50.7%, while the United Arab Emirates and Malaysia witnessed 49.8% and 48.4% increases. The report attributes these drastic price jumps to disruptions in global energy markets, particularly the damage to energy infrastructure and supply chain interruptions following the Middle East conflict.
Although Nigeria benefits from higher crude oil prices, the growing demand for refined fuels from domestic vehicles like electric motorbikes and buses may help mitigate the impact of these price increases in the long run.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
