The National Bureau of Statistics (NBS) reported that the average retail price of a litre of petrol jumped from N246.29 in March 2023 to N696.79 in March 2024.
The agency announced this in its Petrol Price Watch for March 2024, which was released in Abuja on Thursday.
It stated that the March 2024 price of N696.79 was a 163.65% increase over the March 2023 price of N264.29.
“Comparing the average price value to the previous month of February 2024, the average retail price climbed by 2.56% from N679.36.
“According to state profile analysis, Taraba paid the highest average retail price of N761.92 per litre, followed by Yobi i and Adamawa at N749.09 and N735.00, respectively.”
“Conversely, Lagos, Oyo, and Ogun paid the lowest average retail price at N630.75, N645.88 and N651.25,” according to the Bureau of Statistics.
Petrol price
According to the research, the North-East zone had the highest average retail price in March 2024 at N732.37, while the South-West had the lowest at N654.24 per litre.
Source: Vanguardngr.com
