The National Bureau of Statistics (NBS) says the average retail price of a liter of petrol increased from N648.93 in November 2023 to N1,214.17 in November 2024.
According to the News Agency of Nigeria (NAN), he made the statement in his Oil Price Watch for November 2024, published in Abuja on Thursday.
He stated that the November 2024 price of N1,214.17 represented an increase of 87.10 per cent over the price of N648.93 recorded in November 2023.
“Comparing the average price value with the previous month of October, the average retail price increased by 2.48 per cent from N1,184.83.”
Looking at the analysis of state profiles, the report said Benue paid the highest average retail price of N1,365.16 per litre, followed by Borno and Adamawa at N1,331.94 and N1,319.85 respectively.
“On the contrary, Lagos, Katsina and Kano paid the lowest average retail price at N1,092.79, N1,121.25 and N1,152.86 respectively,” he stated.
Zonal analysis showed that the South East zone recorded the highest average retail price in November 2024 at N1,257.72, while the South West zone recorded the lowest price at N1,153.94 per litre.
The NBS also stated in its November 2024 Diesel Price Monitoring Report that the average retail price was N1,446.83 per litre.
He said the November 2024 price of N1,446.83 per liter represented an increase of 37.07 per cent from the N1,055.57 per liter paid in November 2023.
“Month on month, the price increased by 0.38 per cent from N1,441.28 per liter recorded in October 2024,” he added.
Regarding the analysis of the state profile, the report says that the highest average price per liter of diesel in November was recorded in Bauchi State at N2,232.04, followed by Bauchi at N1,770.59 and Borno at N1,751.15. naira.
On the other hand, the lowest price was recorded in Oyo at N1,250.71 per litre, followed by Ogun at N1,258.08 and Lagos at N1,262.38.
Furthermore, zonal analysis showed that the North East zone had the highest price of N1,676.11 per litre, while the South West zone recorded the lowest price of N1,303.61 per litre.