Diesel price soars to ₦1,257 per litre, 50.20% increase in a year

News Agency Of Nigeria

March 20, 2024 2:56 PM

The February 2024 price amounted to a 50.20% increase over the price in February 2023.

Retail price of a litre of diesel increased from ₦836.91 in February 2023 to ₦1,257.06 in February 2024

The National Bureau of Statistics (NBS) says retail price of a litre of diesel increased from ₦836.91 in February 2023 to ₦1,257.06 in February 2024.

NBS stated this in its Diesel Price Watch for February 2024 released in Abuja on Wednesday. It stated that the February 2024 price amounted to a 50.20% increase over the price in February 2023.

“On a month-on-month basis, the price increased by 9.02% from the ₦1,153.01 per litre recorded in January 2024,’’ it added.

The bureau stated also that in state profile analysis, the highest price of diesel in February 2024 was recorded in Akwa Ibom at ₦1,525 per litre, followed by Gombe State at ₦1,500 per litre and Kwara at ₦1,444 per litre.

It stated that the lowest price was recorded in Adamawa at ₦1,037.50 per litre, followed by Kano at ₦1,111.43 per litre and Katsina State at ₦1,125 per litre.

“Analysis by zones showed that the South-South had the highest price of ₦1,343.09 per litre, while the Southwest recorded the lowest price at ₦1,164.05 per litre,’’ it added.

News Agency Of Nigeria