TheCable

The National Bureau of Statistics (NBS) says Abia, Kebbi and Cross River states paid the highest amount for premium motor spirit (PMS), better known as petrol, in January 2022.

The average petrol price during the month under review is N166.40per litre.

The NBS said this in its latest PMS price watch report for January 2021.

According to the report, the average retail price paid by consumers for petrol increased by 1.41 percent on a year-on-year basis to N166.40 in January 2022 compared to N164.09 recorded in January 2021.

The value also increased on a month-on-month basis to N166.40 in January 2022 from N165.76 recorded in December 2021, showing an increase of 0.38 percent.

“States with the highest average retail price of Petrol were Abia with N177.33, Kebbi with N176.11 and Cross River with N172.38,” the report reads.

“On the other hand, states with the lowest average retail price of Petrol were Borno, Adamawa and Lagos with N155.81, N159.88 and N163.26, respectively.”

Across the geopolitical zones, the report showed that the average petrol price was highest in the south-east (N170.48), followed by the north-west (N167.58).

Meanwhile, north-east recorded the lowest average petrol price at N162.62, followed by the south-west (N164.77).

On the other hand, according to the Diesel Price Watch report, the average price paid by consumers for diesel increased by 28.12 percent year-on-year from N224.86 per litre in January 2021 to N288.09 per litre in January 2022.

On a month-on-month, the data shows that the average retail price of diesel stood at N288.09 per litre in January 2022, indicating a decline of 0.44 percent from N289.37 recorded in December 2021.

Per state variations of average retail prices, the report showed that the top three states with the highest average price per litre in January 2022 were Ebonyi, Edo and Osun, with N343.00, N331.64, and N328.89, respectively.

While Yobe, Kano and Sokoto with N216.67, N224.29, and N225.73, respectively, emerged as states with the lowest average prices per litre.

Across the geopolitical zones, the average retail prices show that the south-east has the highest with N317.45, followed by the south-west and south-south with N314.25 and N303.05, respectively. The zone with the lowest average retail price was the North-west with N243.62.