The average price of petrol sold at N648.03 per litre in the month of November, the National Bureau of Statistics (NBS), has said.
The implication is that, aggregate average of petrol price in every part of the country was N648.93 per litre. The NBS said, it is an increase, compared to the average price of N202.48 per litre it stood at the previous month.
NBS said this in its Petrol Price Watch for November 2023 released in Abuja on Thursday.
It stated that the November 2023 price of N648.93 represented a 220.49 per cent increase over the price of N202.48 recorded in November 2022.
“Comparing the average price value with the previous month of October 2023, the average retail price increased by 2.90 per cent from N630.63.
“On state profiles analysis, Kebbi paid the highest average retail price of N691.00 per litre, followed by Jigawa and Akwa Ibom at N677.67 and N675.00, respectively.
“Conversely, Taraba, Kaduna and Lagos paid the lowest average retail price at N618.00, N620.29 and N623.12, respectively,’’ it stated.
Analysis by zones showed that the South-South recorded the highest average retail price in November 2023 at N663.59, while the North-East recorded the lowest price of N632.75 per litre.
The NBS also stated in its Diesel Price Watch Report for November 2023 that the average retail price was N1055.57 per litre.
It said that the November 2023 price of N1055.57 per litre amounted to a 30.50 per cent increase over the N808.87 per litre paid in November 2022.
“On a month-on-month basis, the price increased by 5.03 per cent from the N1004.98 per litre recorded in October 2023,’’ it added.
