Federal finance and statistics / National Bureau of Statistics

Premium Motor Spirit (Petrol) Price Watch (August 2024)

Executive Summary The average retail price paid by consumers for Premium Motor Spirit (Petrol) for August 2024 was N830.46, indicating a 32.51% increase compared to the value recorded in August 2023 (N626.70). Likewise, comparing the average price value with the previous month (.i.e. July 2024), the average retail price increased by 7.78% from N770.54. On State profile analysis, Benue State had the highest average retail price for Premium Motor Spirit (Petrol), at N941.24, Bauchi and Gombe States were next, with N935.71 and N925.00, respectively. Conversely, Delta, Cross River, and Edo States …