Rising pump prices forced Nigerian consumers to cut petrol, diesel and cooking gas consumption during the first half of 2026 as higher energy costs squeezed household incomes and raised transportation and production costs.
An analysis of the H1 2026 Downstream Industry Analysis Report by the Major Energy Marketers Association of Nigeria, obtained by The PUNCH, showed a clear relationship between rising fuel prices and weakening demand for the country’s three major petroleum products.
According to the report, the average retail price of Premium Motor Spirit (petrol) rose from N1,035 per litre in January to N1,051 in February, before climbing to N1,289 in March. It increased further to N1,533 in April and peaked at N1,596 in May before easing to N1,300 in June.
The price increases coincided with declining consumption. Average daily petrol consumption fell from about 60–61 million litres in January to around 58 million litres in February, dropped sharply
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