Federal finance and statistics / National Bureau of Statistics

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

Executive Summary The average retail price paid by consumers for Premium Motor Spirit (Petrol) for July 2024 was N770.54, indicating a 28.35% increase compared to the value recorded in July 2023 (N600.35). Likewise, comparing the average price value with the previous month (.i.e. June 2024), the average retail price increased by 2.72% from N750.17. On State profile analysis, Katsina State had the highest average retail price for Premium Mo tor Spirit (Petrol), at N950.00, Jigawa and Benue States were next, with N903.08 and N846.95, respectively. Conversely, Kwara, Edo, and Akwa Ibom States had…