Federal finance and statistics / National Bureau of Statistics

Premium Motor Spirit (Petrol) Price Watch (December 2023)

Executive Summary The average retail price paid by consumers for Premium Motor Spirit (Petrol) for December 2023 was N671.86, indicating a 225.85% increase when compared to the value recorded in December 2022 (N206.19). Likewise, comparing the average price value with the previous month (.i.e. November 2023), the average retail price increased by 3.53% from N648.93. On State profile analysis, Ogun State had the highest average retail price for Premium Motor Spirit (Petrol), at N776.54, Taraba and Adamawa States were next, with N760.00 and N745.71, respectively. On the other side, Kano, Lagos a…