MON, OCT 23 2023-theGBJournal| The average retail price of Automotive Gas Oil (Diesel) increased by 12.77% on a year-on-year basis,from N789.90 per litre in September 2022, to N890.80 per litre in September 2023, according to latest Price Watch Report data published by the National Bureau of statistics.
Similarly, the average retail price paid by consumers for PMS (Petrol) in September 2023 was N626.21, indicating a 226.75% increase compared to the value recorded in September 2022 (N191.65).
On a month-on-month basis, an increase of 4.27% was recorded from N854.32 in the preceding month of August to an average of N890.80 in September 2023. Looking at the variations in the State prices, the top three State with the highest average price of the product in September 2023 include Kano State (N967.78), Anambra State (N950.95) and Niger State (N950.55).
Furthermore, the top three lowest prices were recorded in the following State namely, Bayelsa State (N840.16), Katsina State (N840.55) and Rivers State (N840.82).
The Zonal representation of average price of Automotive Gas Oil (Diesel) shows that South East Zone has the highest price of N918.06 while South South Zone has the lowest price N863.97 when compared with other Zones.
Petrol price, on State profile analysis, Taraba State had the highest average retail price for Petrol, at N665.56, Borno and Benue States were next, with N657.37 and N641.29, respectively.
On the other side, Rivers, Delta and Jigawa States had the lowest average retail prices for Premium Motor Spirit (Petrol), at N602.55, N605.88 and N617.42 respectively. Lastly, on Zonal profile, the North-East Zone had the highest average retail price of N638.33, while the South-South Zone had the lowest price of N618.47.
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