The National Bureau of Statistics (NBS) has announced that the average retail price of a liter of petrol has increased from N195.29 in October 2022 to N630.63 in October 2023.
He made this declaration at the October 2023 Petrol Price Watch released in Abuja on Wednesday.
He said the price of 630.63 Naira in October 2023 represents an increase of 222.92 per cent compared to the price of 195.29 Naira recorded in October 2022.
“Comparing the average price with the previous month of September 2023, the average retail price increased by 0.71 percent from 626.21 Naira.
“According to the state profile analysis, Zamfara paid the highest average retail price of N659.38 per litre, followed by Gombe and Borno at N658.33 and N657.27 respectively.
“On the contrary, Lagos, Oyo and Delta had the lowest average retail prices at N590.95, N592.19 and N599.38 respectively,” the newspaper said.
A zone-wise analysis shows that the North-East zone recorded the highest average retail price at N644.16 per liter in October 2023, while the South-West zone recorded the lowest price at N616.81 per liter.
NBS also stated in its October 2023 diesel price monitoring report that the average retail price is N1004.98 per liter.
According to the report, the price of N801.09 per liter in October 2023 was an increase of 25.45 per cent over the N801.09 per liter paid in October 2022.
“On a month-on-month basis, the price increased by 12.82 per cent from the N890.80 per liter recorded in September 2023,” it added.
Source: dailypost.ng