19th May, 2023
By Okeoghene Akubuike
The National Bureau of Statistics (NBS), says the average retail price of a litre of petrol has fallen from N264.29 in March to N254.06 in April 2023.
This is according to the NBS Petrol Price Watch, which was announced on Friday in Abuja.
It noted that the April 2023 price of N254.06 represented a 3.87 percent decrease over the March 2023 price of N264.29.
However, the average retail price of a litre of petrol grew year on year from N172.61 in April 2022 to N254.06 in April 2023.
According to the report, the April 2023 price of N254.06 indicated a 47.18 percent increase over the April 2022 price of N172.61.
“On the state profile analysis, Taraba paid the highest average retail price per litre of N320.00, followed by Imo at N310.55 and Jigawa at N305.00.”
“By contrast, Sokoto paid the lowest average retail price of N195.00, followed by Benue at N198.13 and Kogi at N206.11,” the report said.
NBS said the South-East had the highest average retail price in April 2023 at N291.15, while the North-Central had the lowest at N208.88.
NBS’s Diesel Price Watch Report for April 2023, the average retail price paid by consumers grew by 28.69 percent year on year.
It stated that the retail price increased from N654.46 per litre in April 2022 to N842.25 per litre in April 2023.
“On a month-to-month basis, the price increased by 0.17 percent from N840.81 per litre in March 2023 to an average of N842.25 in April 2023,” it added.
Adamawa had the highest average price of fuel in April 2023, at N980.33 per litre, followed by Bauchi at N934.46 and Borno at N900.50.
The lowest price was recorded in Bayelsa at N708.04 per litre, followed by Kebbi at N773.33 and Anambra at N773.56.
Furthermore, the North-East Zone had the highest price at N895.42 per litre, while the South-South Zone had the lowest price at N807.59 per litre.
NAN