THE National Bureau of Statistics (NBS) says the average retail price of a litre of petrol increased from N648.93 in November 2023 to N1,214.17 in November 2024.
It made the declaration in its Petrol Price Watch for November 2024 released in Abuja on Thursday.
It stated that the November 2024 price of N1,214.17 represented an 87.10 per cent increase 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.”
On state profiles analysis, 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.
“Conversely, Lagos, Katsina, and Kano paid the lowest average retail price at N1,092.79, N1,121.25, and N1,152.86 respectively,’’ it stated.
Analysis by zones showed that the South-East Zone recorded the highest average retail price in November 2024 at N1,257.72 while the South-West recorded the lowest price at N1,153.94 per litre.
The NBS also stated in its Diesel Price Watch Report for November 2024 that the average retail price was N1,446.83 per litre.
It said that the November 2024 price of N1,446.83 per litre amounted to a 37.07 per cent increase over the N1,055.57 per litre paid in November 2023.
“On a month-on-month basis, the price increased by 0.38 per cent from the N1,441.28 per litre recorded in October 2024,’’ it added.
On state profile analysis, the report said the highest average price per litre 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.
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.
In addition, the analysis by zones showed that the North-East Zone had the highest price of N1,676.11 per litre, while the South-West recorded the lowest price at N1,303.61 per litre.
