Premium Motor Spirit (Petrol) Price Watch (April 2022)

Executive Summary

The average retail price paid by consumers for Premium Motor Spirit (Petrol) increased to N172.61 in April 2022, indicating a 3.74% increase when compared to the value recorded in April 2021 (N166.38). Likewise, on a month-on-month basis, the average retail price decreased by 6.85% from N185.30 in March 2022, compared to the average retail price paid by consumers in April 2022.
On state profile analysis, the highest average retail price for Premium Motor Spirit (Petrol) was recorded in Kaduna with N202.94, followed by Enugu and Abia with N197.51 and N195.27 respectively. On the other hand, the lowest average retail price for Petrol was recorded in Ebonyi and Nasarawa with N165.00 each, followed by Lagos and Katsina with N165.13 and N165.25 respectively. More so, the highest average retail price was recorded in the South-East zone with N183.69, while the North-Central had the least with N166.57.

Data source: National Bureau of Statistics