NBS Releases Report On The Latest Price Of Petrol

The National Bureau of Statistics (NBS) has stated that the average price of petrol has increased by 2.52 percent at N170.42 per litre in February.

The current price stipulated by the bureau is different from the N500 per litre many petrol stations have been selling the commodity following the scarcity of the product.

In its latest report, NBS said Kaduna State had the highest average retail price for petrol with N189.09 followed by Anambra (N184.09) and Kebbi (N180.00).

The states with the lowest average retail price were Jigawa at N165.00 followed by Nasarawa and Benue with N165.25 and N165.36 respectively.

On a region-by-region basis, the South-East had the highest average retail price with N174.96 and the South-West the least with N167.09.

For Automotive Gas Oil (Diesel), prices paid by consumers increased by 36.98 percent year-on-year from N227.76 per litre in February 2021 to N311.98 in February this year.

On a monthly analysis, the average price of Diesel stood at N311.98 per litre in February, indicating an increase of 8.29 percent from N288.09 recorded the previous month.

On price variations in states, Edo State had the highest average price per litre in February with N373.18, followed by Oyo State (N372.38) and Plateau (N355.40).

Kebbi State had the lowest average prices per litre with N231.67, followed by Yobe (N240.00) and Kano (N250.06).

The zonal distribution of prices for Diesel showed that South-South had the highest retail price with N335.53 followed by South West (N335.40) and South East (N326.76).

The lowest price for gas was recorded in the North-West at N268.84 per litre.