Nigeria records world’s highest diesel price increase at 82.7% – UNCTAD

The United Nations Conference connected Trade and Development, UNCTAD, has reported that Nigeria recorded the world’s highest summation successful Automotive Gas Oil (AGO), commonly known arsenic diesel, prices betwixt February and August 2026.

UNCTAD made this disclosure successful its Geoeconomics of Development report, released astatine the weekend.

According to the report, Nigeria’s diesel pump terms accrued by 82.7 per cent during the period.

Meanwhile, Myanmar recorded the highest petrol terms summation astatine 50.7 per cent, followed by the United Arab Emirates astatine 49.8 per cent and Malaysia astatine 48.4 per cent.

According to UNCTAD, the vigor daze was global, but its effects were uneven, with processing countries, peculiarly successful Asia and Africa, signaling the sharpest home substance terms increases.

The organisation warned that higher vigor costs trim households’ existent incomes and constrain consumption.

This comes amid a caller surge successful diesel prices successful Nigeria.

Dangote Refinery, astatine the weekend, increased its diesel price by N100 per litre to N1,800.

Currently, diesel is sold astatine retail outlets ...