Petrol price stood at N668.30 in January – NBS

National Bureau of Statistics (NBS) says the average retail price of a litre of petrol increased from N257.12 in January 2023 to N668.30 in January 2024.

The bureau stated this in its Petrol Price Watch for January 2024, released in Abuja on Thursday.

It said that the January 2024 price of N668.30 represented a 159.92 per cent increase over the price of N257.12 recorded in January 2023.

“Comparing the average price value with the previous month of December 2023, the average retail price increased by 0.53 per cent from N671.86.

“On state profile analysis, Kebbi paid the highest average retail price of N796.67 per litre, followed by Zamfara and Taraba at N771.43 and N704.11 respectively.

“Conversely, Kwara, Niger and Kogi paid the lowest average retail price at N614.90, 624.04 and 626.79 respectively,” the bureau stated.

According to the organisation, analysis by zones shows that the North-West zone recorded the highest average retail price in January 2024 at N701.60, while the North-Central recorded the lowest price at N632.86 per litre.