From Isaac Anumihe, Abuja

National Bureau of Statistics (NBS), has said that the average retail price paid by consumers for Premium Motor Spirit (petrol) for December 2022 was N206.19 per litre, indicating a 24.38 per cent increase when compared to the value recorded in December 2021 (N165.77).

Likewise, comparing the average price value with the previous month (.i.e. November 2022), the average retail price increased by 1.83 per cent from N202.48. On state profile analysis, Gombe State had the highest average retail price for Premium Motor Spirit (petrol) with N218.89, followed by Kwara with N216.36 and Kogi with N216.00.
On the other hand, Ebonyi recorded the lowest average retail price for Premium Motor Spirit (petrol) with N195.83, followed by Abuja with N196.00 and Bayelsa with N196.14. In addition, analysis by zone showed that the North-East recorded the highest average retail price in December 2022 with N209.64, while the South-South had the lowest with N200.02.

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Similarly, the bureau posted in its website that the average retail price of Automotive Gas Oil (Diesel) paid by consumers in December 2022 was N817.86 per litre, an increase of 182.64 per cent from N289.37 per litre recorded in the corresponding month of the previous year.

On a month-on-month basis, this increased by 1.11 per cent  from N808.87 per litre reported in November 2022. On state profile analysis, the highest average price of the product in December 2022 was recorded in Ebonyi with N869.25, followed by Bauchi with N860.00, and Ondo with N856.36 On the other hand, the lowest price was recorded in Akwa Ibom with N773.75, followed by Benue with N777.50 and Borno with N785.00. Furthermore, analysis by zone showed that the South-West had the highest price with N841.35, while the South-South recorded the lowest price with N798.54.