Federal finance and statistics / National Bureau of Statistics

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

Executive Summary The average retail price paid by consumers for Premium Motor Spirit (Petrol) for the month of March 2024 was N696.79, indicating a 163.65% increase when compared to the value recorded in March 2023 (N264.29). Likewise, comparing the average price value with the previous month (.i.e. February 2024), the average retail price increased by 2.56% from N679.36. On State profile analysis, Taraba State had the highest average retail price for Premium Motor Spirit (Petrol), at N761.92, Yobe and Adamawa States were next, with N749.09 and N735.00, respectively. On the other side, Lagos,…