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Nigerians paid 1.31% more for petrol in February

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Increase in petrol price inevitable –Rewane

Nigerians are already reeling from the effects of rising crude oil prices despite the return of subsidy as the average price of petrol increased to N166.24 in February.

This was 1.31 percent higher than N164.09 Nigerians paid for the product in January.

According to the latest Premium Motor Spirit (Petrol) Price Watch released by the National Bureau of Statistics (NBS) on Saturday, the price was also 14.32 percent higher than the N145.4 paid for petrol by consumers in February last year.

The report said residents in Abia, Kogi and Kebbi States paid the highest average price for petrol in February.

READ ALSO: Crude oil price slumps in favour of Nigerians, but fuel hike lingers

In Abia, petrol was sold at N180 while residents of Kogi and Kebbi paid N175.82 and N173.07 for the product respectively.

Three states – Osun (N162.91), Nasarawa (N163.08), and Katsina (N163.25) paid the lowest price for petrol during the month.

On regional basis, residents of South-East paid the highest for petrol with N169.16 followed by North-Central (N167.14), and North-West (N166.24).

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