The National Bureau of Statistics (NBS) reported a staggering 157.57% year-on-year increase in the national average price of Premium Motor Spirit (petrol), reaching N679.36 per litre, compared to N263.76 per litre in 2023.
Zamfara State topped the chart with petrol priced at N750.43 per litre, followed closely by Kebbi and Taraba States. Conversely, Kwara, Ogun, and Benue States recorded the lowest petrol prices.
The North-West zone witnessed the highest average petrol price, while the South-West zone had the lowest. Meanwhile, diesel prices also surged by 50.20%, with an average retail price of N1,257.06 per litre. Akwa Ibom State led in diesel prices, followed by Gombe and Kwara State.
However, Adamawa, Kano, and Katsina States reported the lowest diesel prices. The South-South zone recorded the highest average diesel price, while the South-West had the lowest. These significant price hikes raise concerns about their impact on consumers and the economy.
