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Petrol price increased to N626.21 in September — NBS


The National Bureau of Statistics (NBS) has reported that the average retail price of a litre of petrol increased from N191.65 in September 2022 to N626.21 in September 2023.

This information was provided in the Petrol Price Watch for September 2023, released in Abuja on Saturday.

According to the NBS, the September 2023 price of N626.21 represents a 226.75 per cent increase over the price of N191.65 recorded in September 2022.

“Comparing the average price value with the previous month of August 2023, the average retail price increased by 0.08 per cent from N626.70.

On the analysis of state profiles, Taraba had the highest average retail price of N665.56 per liter, followed by Borno and Benue at N657.37 and N641.29, respectively.

Conversely, Rivers, Delta, and Jigawa had the lowest average retail prices at N602.55, N605.88, and N617.42, respectively,” the report stated.

When analysed by zones, the North-East recorded the highest average retail price in September 2023 at N638.33, while the South-South recorded the lowest at N618.47 per litre.

The NBS also reported in its Diesel Price Watch Report for September 2023 that the average retail price was N890.80 per litre.

It further explained that the September 2023 price of N890.80 per litre represented a 12.77 per cent increase over the N789.90 per litre paid in September 2022.

“On a month-on-month basis, the price increased by 4.27 per cent from the N854.32 per litre recorded in August 2023,” it added.

In the state profile analysis, the report mentioned that the highest average price of diesel in September 2023 was recorded in Kano at N967.78 per litre, followed by Anambra at N950.95 per litre, and Niger at N950.55 per litre.

Conversely, the lowest price was recorded in Bayelsa at N840.16 per litre, followed by Katsina at N840.55 per litre, and Rivers at N840.82 per litre.

Additionally, the analysis by zones showed that the South-East had the highest price at N918.06 per litre, while the South-South recorded the lowest price at N863.97 per litre.

Credit: (NAN)

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