'Kebbi N691/litre' - Petrol prices increase again ahead of Christmas, 3 states residents pay more

The National Bureau of Statistics (NBS) has revealed that the average price of Premium Motor Spirit (Petrol), also known as petrol, increased to N648.93 per litre in Nigeria in November 2023.

This represents a whopping 220.49% increase in the product compared to the average value price of N202.48 paid in November 2022.

NBS disclosed this in its latest petrol price watch report released on Thursday, December 21, 2023.

Breakdown of petrol prices in Nigeria

The report also showed that on a month-to-month change, the average retail price increased by 2.90% from N630.63 in October 2023.

The sharp changes reflect the petrol subsidy removal enjoyed by Nigerians over the years.

Nigerian states with the highest, lowest petrol prices

On a state-by-state analysis of petrol prices, NBS data showed that Kebbi State residents paid the highest average retail price of petrol at N691.00 per litre.

This is followed by Jigawa and Akwa Ibom States with N677.67 and N675.00 petrol prices per litre in November 2023.

Conversely, Taraba, Kaduna and Lagos States had the lowest average retail prices for Petrol at N618.00, N620.29 and N623.12, respectively.

On the Zonal profile, the South-South Zone had the highest average retail price of N663.59, while the North East Zone had the lowest price of N632.75.

North West, North Central, South West, and South East residents paid N659.17, N647.43, N636.47 and N653.07, respectively.