July 02, (THEWILL) – The average retail price of Premium Motor Spirit (Petrol) in Nigeria, rose to N937 per litre in the Northern region in May 2024, the National Bureau of Statistics (NBS) said on Tuesday.
According to the Bureau, the average price paid for petrol was N769.62, indicating a 223.21 percent increase, compared to the value recorded in May 2023 (N238.11). In comparison to the previous month (April 2024), the average retail price increased by 9.75 percent from N701.24.
On state profile analysis, Jigawa had the highest average retail price for the commodity at N937.50, Ondo and Benue states were next, with N882.67 and N882.22 respectively.
Lagos, Niger and Kwara states had the lowest average retail prices, at N636.80, N642.16 and N645.15 respectively.
The North-West Zone had the highest average retail price of N845.26, while the North Central Zone had the lowest at N695.04
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