The average retail price paid by consumers for Premium Motor Spirit (Petrol) for July 2024 was N770.54, indicating a 28.35% increase compared to the value recorded in July 2023 (N600.35). Likewise, comparing the average price value with the previous month (.i.e. June 2024), the average retail price increased by 2.72% from N750.17. On State profile analysis, Katsina State had the highest average retail price for Premium Mo tor Spirit (Petrol), at N950.00, Jigawa and Benue States were next, with N903.08 and N846.95, respectively.

Conversely, Kwara, Edo, and Akwa Ibom States had the lowest average retail prices for Premium Motor Spirit (Petrol), at N650.00, N669.75, and N673.75 respectively. Lastly, on the Zonal profile, the North-West Zone had the highest average re tail price of N820.10, while the South-South Zone had the lowest price of N678.30.

Data source: National Bureau of Statistics

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