Average price of PMS in September was N191.65 per litre — NBS

Consumers paid N191.65 for a litre of petrol in September on the average, the National Bureau of Statistics (NBS) stated on Saturday.

It stated in its ‘Premium Motor Spirit (Petrol)’ Price Watch for September 2022 that the average price was a 16.26 per cent increase over the N164.85 paid in September 2021.

“Comparing the average price value with the previous month of August 2022, the average retail price increased by 1.15 per cent from N189.46.”

The NBS stated that on states profile analyses, Kano State paid the highest average retail price for petrol at N207.50 in September, followed by Jigawa at N205.62 and Bayelsa at N204.27.

Conversely, consumers in Delta paid lowest average retail price of N179.74 per litre of petrol in September, followed by Edo at N183.17 and Borno at N184.50.

Analyses by zone showed that the Northwest recorded the highest average retail price in September at N197.51, while the Northeast recorded the lowest at N186.52.

The NBS also stated in its ‘Diesel Price Watch’ for September 2022 that the average retail price paid for a litre was N789.90.

It added that the September 2022 price amounted to a 210.20 per cent increase from the N254.64 per litre recorded in September 2021.

On a month-on-month basis, the September 2022 price showed an increase of 0.38 per cent from the N786.88 per litre reported in August 2022.

On states profile analyses, the report said the highest average price of diesel in September 2022 was recorded in Ondo State at N859.23, followed by Ebonyi at N849 and Niger at N841.67.

Conversely, the lowest price was recorded in Katsina State at N710 per litre of diesel, followed by Yobe at N725 and Bayelsa at N726.67.

The NBS added that analysis by zone showed that the North-Central recorded had the highest price at N811.24 per litre of diesel, while the South-South recorded the lowest price at N762.74 per litre.