Taraba, Borno pay highest as petrol price soars by over 200% in one year

The average retail price of a litre of petrol soared by over 200 percent as the country grapples with the chronic effects of inflation.

This was disclosed by the National Bureau of Statistics in its Petrol Price Watch for September 2023 released in Abuja on Saturday.

It stated that the September 2023 price of N626.21 represented a 226.75 per cent increase over the price of N191.65 recorded in September 2022.

“Comparing the average price value with the previous month of August 2023, the average retail price increased by 0.08 per cent from N626.70.

“On state profiles analysis report, Taraba paid the highest average retail price of N665.56 per litre, followed by Borno and Benue at N657.37 and N641.29, respectively.

“Conversely, Rivers, Delta and Jigawa paid the lowest average retail prices at N602.55, N605.88 and N617.42, respectively,’’ it stated.

Analysis by zones revealed that the South-South had the lowest average retail price in September 2023 at N618.47 per litre, while the North-East had the highest average retail price at N638.33.

Additionally, the NBS reported that the average retail price for diesel for September 2023 was N890.80 per litre in its Diesel Price Watch Report.

It went on to say that the N890.80 per litre pricing in September 2023 represented a 12.77% rise over the N789.90 per litre paid in September 2022.

“On a month-on-month basis, the price increased by 4.27 per cent from the N854.32 per litre recorded in August 2023,’’ it added.

On the state profile analysis, the report said the highest average price of diesel in September 2023 was recorded in Kano at N967.78 per litre, followed by Anambra at N950.95 per litre and Niger at N950.55 per litre.

On the other hand, the lowest price was recorded in Bayelsa at N840.16 per litre followed by Katsina at N840.55 per litre and Rivers at N840.82 per litre.

In addition, the analysis by zones showed that the South-East had the highest price at N918.06 per litre, while the South-South recorded the lowest price at N863.97 per litre.

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