The National Bureau of Statistics (NBS), says consumers paid N195.29 for a litre of Premium Motor Spirit (Petrol) on the average in October 2022. This is contained in the NBS’ “Premium Motor Spirit (Petrol) Price Watch” for October 2022 where it noted that the average price was a 17.93 per cent increase over the N165.60 paid in October 2021.
“Likewise, comparing the average price value with the previous month of September 2022, the average retail price increased by 1.90 per cent from N191.65.” The NBS said on state profile analysis, Kebbi State paid the highest average retail price for petrol at N211.00 in September 2022, followed by Kano at N210.14 and Gombe at N210.00.
Conversely, the report said consumers in Sokoto State paid the lowest average retail price for petrol at N185.00, followed by Taraba at N185.42 and Abia at N186.56.
It said analysis by zones showed that the North-West recorded the highest average retail price of petrol in October at N198.28, while the South-West recorded the lowest at N192.42.