The average retail price paid by consumers for Premium Motor Spirit (Petrol) increased to N175.89 in June 2022, indicating a 6.21% increase when compared to the value recorded in June 2021 (N165.61). Likewise, on a month-on-month basis, the average retail price increased by 1.63% from N173.08 in May 2022, compared to the average retail price paid by consumers in June 2022. On state profile analysis, the highest average retail price for Premium Motor Spirit (Petrol) was recorded in Sokoto with N195.55, followed by Kaduna and Adamawa with N190.80 and N190.67 respectively. On the other hand, the lowest average retail price for Petrol was recorded in Benue, Ogun and Kebbi with N165.00, N165.20 and N165.33 respectively. More so, the highest average retail price was recorded in the North-East zone with N182.67, while the North-Central had the least with N167.36.
Data source: National Bureau of Statistics