Connect with us


Petrol increase to N626.70 in August – NBS



The National Bureau of Statistics (NBS), says the average retail price of a litre of Petrol increased from N189.46 in Aug. 2022 to N626.70 in Aug. 2023.

It made the declaration in its Petrol Price Watch for Aug. 2023 released in Abuja on Friday.

It stated that the Aug. 2023 price of N626.70 represented a 230.78 per cent increase over the price of N189.46 recorded in Aug. 2022.

“Comparing the average price value with the previous month of July 2023, the average retail price increased by 4.39 per cent from N600.35.

“On state profiles analysis, Taraba paid the highest average retail price of N680 per litre, followed by Borno and Benue at N657.27 and N649, respectively.

“Conversely, Adamawa paid the lowest average retail prices of N594.81 per litre, followed by Rivers at N596.80 and Delta at N604.63,’’ it stated.

Analysis by zone showed that the North-East recorded the highest average retail price in Aug.2023 at N636.93 per litre, while the South-South recorded the lowest at N616.95 per litre.

The NBS also stated in its Diesel Price Watch Report for August 2023 that the average retail price was N854.32 per litre.

It explained further that the Aug. 2023 price of N854.32 per litre amounted to a 8.57 per cent increase over the N786.88 per litre paid in August 2022.

“On a month-on-month basis, the price increased by 7.53 per cent from the N794.48

per litre recorded in July 2023,’’ it added.

On state profiles analysis, the report said the highest average price of diesel in Aug. 2023 was recorded in Abia at N970 per litre, followed by Niger at N960.14 per litre and Abuja at N950.22 per litre.

On the other hand, the lowest price was recorded in Bayelsa at N700 per litre, followed by Katsina State at N771.43 per litre and Kaduna State at N775.42 per litre.

In addition, the analysis by zone showed that the North-Central had the highest price at N907.86 per litre, while the South-South recorded the lowest price at N820.02 per litre.

cnn news

Okeoghene Akubuike

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.



Shell Digital Plan RESPONSIVE600x750
Shell Digital Plan RESPONSIVE600x750