The National Bureau of Statistics (NBS) has disclosed that the average retail price of Premium Motor Spirit (Petrol) paid by consumers in October 2024 increased to N1,184.83.
NBS, In a PMS Price Watch Report for October 2024 released on Thursday said, the price was higher compared to the N630.63 recorded in October 2023, indicating a 87.88% increase.
Likewise, comparing the average price value with the previous month (.i.e. September 2024), the average retail price increased by 14.98% from N1030.46.
On State profile analysis, Ebonyi State had the highest average retail price for Premium Motor Spirit (Petrol), at N1292.86, Jigawa and Borno States were next, with N1288.18 and N1283.79, respectively.
Conversely, Delta, Nasarawa, and Lagos States had the lowest average retail prices for Premium Motor Spirit (Petrol), at N1,050.00, N1,063.68, and N1,080.95 respectively.
Lastly, on the Zonal profile, the South East Zone had the highest average retail price of N1256.76, while the North-Central Zone had the lowest price of N1132.94.
