Federal finance and statistics / National Bureau of Statistics

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

Executive Summary The average retail price paid by consumers for Premium Motor Spirit (Petrol) in February 2023 was N263.76, indicating a 54.76% increase when compared to the value recorded in February 2022 (N170.42). Likewise, comparing the average price with the previous month (.i.e. January 2023), the average retail price increased by 2.58% from N257.12. On state profile analysis, Jigawa state had the highest average retail price for Premium Motor Spirit (Petrol) with N329.17, followed by Rivers and Ebonyi with N323.33 and N317.14, respectively. On the other hand, Niger State had the lowest…