Price of petrol increased by 2.52% in February – NBS

The National Bureau of Statistics (NBS) said on Wednesday the average price of Premium Motor Spirit (Petrol) in the country increased by 2.52 percent at N170.42 per litre in February.

This was a far cry from the N500 per litre many petrol stations sold the commodity following the scarcity occasioned by the discovery of adulterated fuel by industry regulators last month.

In its latest price watch report, the agency said Kaduna State had the highest average retail price for petrol with N189.09 followed by Anambra (N184.09) and Kebbi (N180.00).

Conversely, Jigawa State recorded the lowest average retail price for the product with N165.00, followed by Nasarawa and Benue with N165.25 and N165.36 respectively.

On a region-by-region basis, the South-East had the highest average retail price with N174.96 and the South-West the least with N167.09.

READ ALSO: Litre of petrol now N330, as NNPC commits N10bn daily to keep price low

For Automotive Gas Oil (Diesel),prices paid by consumers increased by 36.98 percent year-on-year from N227.76 per litre in February 2021 to N311.98 in February this year.

On a monthly analysis, the average price of Diesel stood at N311.98 per litre in February, indicating an increase of 8.29 percent from N288.09 recorded the previous month.

On price variations in states, Edo State had the highest average price per litre in February with N373.18, followed by Oyo State (N372.38) and Plateau (N355.40).

Kebbi State had the lowest average prices per litre with N231.67, followed by Yobe (N240.00) and Kano (N250.06).

The zonal distribution of prices for Diesel showed that South-South had the highest retail price with N335.53 followed by South West (N335.40) and South East (N326.76).

The lowest price for gas was recorded in the North-West at N268.84 per litre.

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