The average retail price of a liter of gasoline jumped from N246.29 in March 2023 to N696.79 in March 2024, according to the National Bureau of Statistics (NBS).
This was disclosed by the agency in its Petrol Price Watch for March 2024, which was made public in Abuja on Thursday.
The price of N696.79 in March 2024 was stated to be 163.65% more than the price of N264.29 in March 2023.
“Comparing the average price value with the previous month of February 2024, the average retail price increased by 2.56 per cent from N679.36.
“On state profile analysis, Taraba paid the highest average retail price of N761.92 per litre, followed by Yobi i and Adamawa at N749.09 and N735.00, respectively. Naira Steadies as Banks Issue Update on FX Purchase
“Conversely, Lagos, Oyo, and Ogun paid the lowest average retail price at N630.75, N645.88 and N651.25,” the bureau said.
The report said analysis by zones showed that the North-East zone recorded the highest average retail price in March 2024 at N732.37, while the South-West recorded the lowest price at N654.24 per litre.
