The National Bureau of Statistics (NBS) says the average retail price of a litre of petrol increased from N545.83 in June 2023 to N750.17 in June 2024.

It made the declaration in its Petrol Price Watch for June 2024 released in Abuja on Thursday.

It stated that the June 2024 price of N750.17 represented a 34.77 per cent increase over the price of N545.83 recorded in June 2023.

‘Comparing the average price value with the previous month of May, the average retail price decreased by 2.53 per cent from N769.72.’

On state profiles analysis, the report said Benue paid the highest average retail price of N854.55 per litre, followed by Jigawa and Rivers at N847.00 and N810.00, respectively.

‘Conversely, Lagos, Kwara and Ogun paid the lowest average retail price at N626.94, N650.00, and N670.63, respectively,”it stated.

Analysis by zones showed that the South-South Zone recorded the highest average retail price in June 2024 at N794.64 while the South-West recorded the lowest price at N696.42 per litre.

The NBS
also stated in its Diesel Price Watch Report for June 2024 that the average retail price was N1,462.98 per litre.

It said that the June 2024 price of N1,462.968 per litre amounted to a 79.32 per cent increase over the N815.83 per litre paid in June 2023.

‘On a month-on-month basis, the price increased by 4.20 per cent from the N1,403.96 per litre recorded in May 2024,” it added.

On state profile analysis, the report said the highest average price of diesel in June 2024 was recorded in Niger at N1,979.23 per litre, followed by Cross River at N1,920.86 and Taraba at N1,742.46.

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On the other hand, the lowest price was recorded in Lagos at N1,210.77 per litre, followed by Ogun at N1,239.17 and Abuja at N1,240.00.

In addition, the analysis by zones showed that the North-East Zone had the highest price of N1,659.07 per litre, while the South-West recorded the lowest price at N1,280.54 per litre.

Source:News Agency of Nigeria