The average retail price paid by consumers for premium motor spirit (Petrol) increased to N166.40 in January 2022 from N164.09 in January 2021 indicting 1.41% increase on year-on-year.

On month-on-month, the average retail price increased from N165.76 in December 2021 to N166.40 in January 2022, showing an increase of 0.38%. States with the highest average retail price of premium motor spirit (Petrol) were Abia with N177.33, Kebbi with N176.11 and Cross River with N172.38.

On the other hand, States with the lowest average retail price of premium motor spirit (Petrol) were Borno, Adamawa and Lagos with N155.81, N159.88 and N163.26 respectively. Likewise, the highest average retail price was recorded in the South-East zone with N170.48 while the North-East had the least with N162.62.

Data source: National Bureau of Statistics

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