From Isaac Anumihe, Abuja
The National Bureau of Statistics (NBS) has raised alarm over the price of Premium Motor Spirit (PMS) popularly known as petrol, saying that it has increased by 47.18 per cent in April.
Also, it stated that the price of diesel was N842.25 per litre in April, an increase of 28.69 per cent from N654.46 per litre in March.
In a statement obtained from the NBS website, in April 2023, the price of petrol increased to N254.06, indicating an increase of 47.18 per cent relative to the value recorded in April 2022 (N172.61).
Likewise, comparing the average price value with the previous month (i.e. March 2023), the average retail price decreased by 3.87 per cent from N264.29.
On state profile analysis, Taraba State had the highest average retail price for Premium Motor Spirit (Petrol) with N320.00, followed by Imo with N310.55 and Jigawa with N305.00. On the other hand, Sokoto recorded the lowest average retail price for Premium Motor Spirit (Petrol) with N195.00, followed by Benue with N198.13 and Kogi with N206.11. In addition, analysis by zone showed that the South-East recorded the highest average retail price in April 2023 with N291.15, while the North-Central had the lowest with N208.88.
Similarly, the average retail price of Automotive Gas Oil (diesel) paid by consumers in April 2023 was N842.25 per litre, an increase of 28.69 per cent from N654.46 per litre recorded in the corresponding month of the previous year. On a month-on-month basis, this increased by 0.17 per cent from N840.81 per litre reported in March 2023.
On state profile analysis, the highest average price of the product in April 2023 was recorded in Adamawa with N980.33, followed by Bauchi with N934.46, and Borno with N900.50. On the other hand, the lowest price was recorded in Bayelsa with N708.04, followed by Kebbi with N773.33 and Anambra with N773.56. Furthermore, analysis by zone showed that the North East had the highest price with N895.42, while the South-South recorded the lowest price with N807.59.