The average retail price paid by consumers for Premium Motor Spirit (Petrol) for September 2022 was N191.65, indicating a 16.26% increase when compared to the value recorded in September 2021 (N164.85). Likewise, comparing the average price value with the previous month (.i.e. August 2022), the average retail price increased by 1.15% from N189.46. On state profile analysis, Kano State had the highest average retail price for Premium Motor Spirit (Petrol) with N207.50, followed by Jigawa with N205.62 and Bayelsa with N204.27. On the other hand, Delta had the lowest average retail price for Premium Motor Spirit (Petrol) with N179.74, followed by Edo with N183.17 and Borno with N184.50. In addition, analysis by zone showed that the North-West recorded the highest average retail price in September 2022 with N197.51, while the North-East had the lowest with N186.52.
Data source: National Bureau of Statistics