Rising fuel prices reduce petrol, diesel, and cooking gas demand in Nigeria during first half of 2026
Nigerian consumers reduced their consumption of petrol, diesel, and cooking gas in the first half of 2026 due to increasing pump prices, which impacted household incomes and raised transportation and production costs. An analysis by the Major Energy Marketers Association of Nigeria MEMAN revealed a direct link between higher fuel prices and decreased demand for these petroleum products. For instance, average daily petrol consumption dropped from 60-61 million litres in January to 48 million litres in June, while prices fluctuated, peaking at N1,596 per litre in May. Similarly, diesel consumption declined from 19.5 million litres per day in January to about 16 million litres daily in May and June, with prices reaching N3,277 per litre in May. Liquefied Petroleum Gas LPG also saw weaker demand, falling from 4.9-5.0 kilotonnes daily in January to around 4.2 kilotonnes in June, as prices rose to N1,800 per kilogramme in May. MEMAN attributed these price increases to rising global crude oil prices, influenced by geopolitical tensions and shipping disruptions. The association noted that Nigerian consumers have become increasingly price-sensitive. MEMAN also advised against relying solely on domestic refining for Nigeria鈥檚 fuel supply, emphasizing that complementary imports are crucial for energy security, competition, and preventing market concentration. The report highlighted that while domestic refining capacity has expanded, imports will continue to play a vital role in ensuring
