The National Bureau of Statistics, NBS, has said that the average retail price of a litre of petrol increased from N195.29 in October 2022 to N630.63 in October 2023.
The NBS made the declaration in its Petrol Price Watch for October 2023 in Abuja on Wednesday, stating that the October 2023 price of N630.63 represented a 222.92 per cent increase over the price of N195.29 recorded in October 2022.
“Comparing the average price value with the previous month of September 2023, the average retail price increased by 0.71 per cent from N626.21.
“On state profiles analysis, Zamfara paid the highest average retail price of N659.38 per litre, followed by Gombe and Borno at N658.33 and N657.27, respectively.
“Conversely, Lagos, Oyo, and Delta paid the lowest average retail price at N590.95, N592.19 and N599.38 respectively,’’ it stated.
Analysis by zones showed that the North-East Zone recorded the highest average retail price in October 2023 at N644.16, while the South-West recorded the lowest price at N616.81 per litre.
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