Federal finance and statistics / National Bureau of Statistics

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

Executive Summary The average retail price paid by consumers for Premium Motor Spirit (Petrol) in June 2023 was N545.83, indicating an increase of 210.31% relative to the value recorded in June 2022 (N175.89). Likewise, comparing the average price value with the previous month (i.e. May 2023), the average retail price increased by 129.23% from N238.11. On state profile analysis, Taraba state had the highest average retail price for Premium Motor Spirit (Petrol) with N562.86, followed by Yobe with N562.31 and Kano with N561.82. On the other hand, Anambra recorded the lowest average retail price…