Federal finance and statistics / National Bureau of Statistics

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

Executive Summary The average retail price paid by consumers for Premium Motor Spirit (Petrol) in March 2023 was N264.29, indicating an increase of 42.63% relative to the value recorded in March 2022 (N185.30). Likewise, comparing the average price value with the previous month (i.e. February 2023), the average retail price increased by 0.20% from N263.76. On state profile analysis, Imo state had the highest average retail price for Premium Motor Spirit (Petrol) with N332.67, followed by Taraba with N330.00 and Borno with N324.55. On the other hand, Benue recorded the lowest average retail pri…