The average retail price paid by consumers for Premium Motor Spirit (Petrol) for August 2022 was N189.46, indicating a 14.89% increase when compared to the value recorded in August 2021 (N164.91). Likewise, comparing the average price value with the previous month (.i.e. July 2022), the average retail price decreased by 0.29% from N190.01. On state profile analysis, Kaduna State had the highest average retail price for Premium Motor Spirit (Petrol) with N210.94, followed by Jigawa with N210.50 and Ebonyi with N205.50. On the other hand, Ogun had the lowest average retail price for Premium Motor Spirit (Petrol) with N177.88, followed by Delta with N178.00 and Bauchi with N178.50. In addition, analysis by zone showed that the North-West recorded the highest average retail price in August 2022 with N199.73, while the North-East had the lowest with N178.93.
Data source: National Bureau of Statistics