The National Bureau of Statistics says the average retail price of a litre of the Premium Motor Spirit, popularly known as petrol, increased by N830.46 in August 2024......See Full Story>>.....See Full Story>>
This represents a 7.78% increase compared to the N770.54 per litre average price value recorded in July 2024.
NBS stated this in its latest PMS price watch report published on its website, which was analysed by Legit.
The average petrol price in August is a 32.51% increase compared to the value recorded in August 2023 (N626.70 per litre).
Petrol prices differ by States
Furthermore, the NBS provided a breakdown of the average petrol price by state, including states with the highest and lowest prices.
Based on the state profile analysis data, Benue State had the highest average retail price for petrol, at N941.24, and Bauchi and Gombe States were next, with N935.71 and N925.00, respectively.
Conversely, Delta, Cross River, and Edo States had the lowest average retail prices for petrol, at N667.50, N672.00, and N676.25, respectively.
Lastly, on the Zonal profile, the North-East Zone had the highest average retail price of N908.21, while the South-South Zone had the lowest price of N677.11.
States with the cheapest price of petrol
Kwara: N650.00
Edo: N669.75
Akwa Ibom: N673.75
Abuja: N677.00
Cross River: N677.78
Delta: N680.00
Bayelsa: N684.00
Rivers: N684.55
Lagos: N693.82
Ogun: N742.22
Ten most expensive states to buy petrol
Benue: N941.24
Bauchi: N935.71
Gombe: N925.00
Yobe: N916.00
Jigawa: N902.67
Taraba: N899.67
Borno: N893.29
Imo: N891.93
Abia: N887.72
Zamfara: N887.69