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

Executive Summary

The average retail price paid by consumers for Premium Motor Spirit (Petrol) for November 2022 was N202.48, indicating a 29.81% increase when compared to the value recorded in November 2021 (N167.60). Likewise, comparing the average price value with the previous month (.i.e., October 2022), the average retail price increased by 3.68% from N195.29.
On the States profiles analyses, Kwara State had the highest average retail price for Premium Motor Spirit (Petrol), at N217.14. Enugu and Gombe States were next, with N215.71 and N215.00, respectively. On the other side, Ekiti, Akwa Ibom and Delta States had the lowest average retail prices for Premium Motor Spirit (Petrol), at N189.06, 189.33 and 190.00, respectively. Lastly, on the zonal profile, the North-Central zone had the highest average retail price of N207.35, while the South-South zone had the lowest price of N194.58. 

Data source: National Bureau of Statistics