The average retail price paid by consumers for Premium Motor Spirit (Petrol) for December 2022 was N206.19 per litre, indicating a 24.38% increase when compared to the value recorded in December 2021 (N165.77). Likewise, comparing the average price value with the previous month (.i.e. November 2022), the average retail price increased by 1.83% from N202.48. On state profile analysis, Gombe state had the highest average retail price for Premium Motor Spirit (Petrol) with N218.89, followed by Kwara with N216.36 and Kogi with N216.00.
On the other hand, Ebonyi recorded the lowest average retail price for Premium Motor Spirit (Petrol) with N195.83, followed by Abuja with N196.00 and Bayelsa with N196.14. In addition, analysis by zone showed that the North-East recorded the highest average retail price in December 2022 with N209.64, while the South-South had the lowest with N200.02.
Data source: National Bureau of Statistics