The average retail price paid by consumers for Premium Motor Spirit (Petrol) in April 2023 was N254.06, indicating an increase of 47.18% relative to the value recorded in April 2022 (N172.61). Likewise, comparing the average price value with the previous month (i.e. March 2023), the average retail price decreased by 3.87% from N264.29.
On state profile analysis, Taraba state had the highest average retail price for Premium Motor Spirit (Petrol) with N320.00, followed by Imo with N310.55 and Jigawa with N305.00. On the other hand, Sokoto recorded the lowest average retail price for Premium Motor Spirit (Petrol) with N195.00, followed by Benue with N198.13 and Kogi with N206.11. In addition, analysis by zone showed that the South-East recorded the highest average retail price in April 2023 with N291.15, while the North-Central had the lowest with N208.88.
Data source: National Bureau of Statistics