Nigerians purchase PMS at higher prices in July – NBS

PM NEWS

The National Bureau Statistics (NBS) says the average retail price paid by consumers for Premium Motor Spirit (Petrol) for July 2024 was N770.54, indicating a 28.35% increase compared to the value recorded in July 2023 (N600.35).

The NBS, in its July report said likewise, comparing the average price value with the previous month (.i.e. June 2024), the average retail price increased by 2.72% from N750.17.

“On State profile analysis, Katsina State had the highest average retail price for Premium Motor Spirit (Petrol), at N950.00, Jigawa and Benue States were next, with N903.08 and N846.95, respectively.

“Conversely, Kwara, Edo, and Akwa Ibom States had the lowest average retail prices for Premium Motor Spirit (Petrol), at N650.00, N669.75, and N673.75 respectively.