Petrol price stands at ₦696.79 in March – Report

News Agency Of Nigeria 19:21 - 18 April 2024

Marketers warn of looming petrol price hike after Dangote Refinery halts supply

The report said analysis by zones showed that the North-East zone recorded the highest average retail price in March 2024 at ₦732.37.

The National Bureau of Statistics (NBS), has said that the average retail price of a litre of petrol increased from ₦246.29 in March 2023 to ₦696.79 in March 2024.

The bureau made this known in its Petrol Price Watch for March 2024, released in Abuja on Thursday.

It said that the March 2024 price of ₦696.79 represented a 163.65 per cent increase over the price of ₦264.29 recorded in March 2023.

“Comparing the average price value with the previous month of February 2024, the average retail price increased by 2.56 per cent from ₦679.36.

“On state profile analysis, Taraba paid the highest average retail price of ₦761.92 per litre, followed by Yobe and Adamawa at ₦749.09 and ₦735.00, respectively.

“Conversely, Lagos, Oyo, and Ogun paid the lowest average retail price at ₦630.75, ₦645.88 and N651.25,” the bureau said.

The report said analysis by zones showed that the North-East zone recorded the highest average retail price in March 2024 at ₦732.37, while the South-West recorded the lowest price at ₦654.24 per litre.