Price of Petroleum Will Increased by 42.63 Per Cent Per Litre in One Year: NBS

The National Bureau of Statistics (NBS) has stated that the cost of a litre of fuel at the retail level went from N185.30 in March 2022 to N264.29 in March 2023.
In its Petrol Price Watch for March 2023, which was published on Monday in Abuja, it made the announcement.
According to it, the price of N264.29 in March 2023 increased by 42.63% from the price of N185.30 in March 2022.

A zone-by-zone analysis revealed that in March 2023, the South-east had the highest average retail pricing at N306.00 per litre and the North-central had the lowest at N205.10 per litre.
The average retail price that consumers paid climbed by 55.90% year over year, according to the NBS’s Diesel Price Watch Report for March 2023.
The retail price increased from a lower cost of N539.32 per litre in March 2022 to a higher cost of N836.81 per litre in March 2023, according to the document.

A study of state profiles showed that Bauchi had the highest average diesel price in March 2023, at N910.46 per litre, followed by Abuja at N889.44 and Adamawa at N880.33.
On the other side, Bayelsa had the lowest price of N768.04 for a litre, followed by Katsina at N779.78 and Edo at N797.14.
Additionally, the research by zone revealed that the South-South zone had the lowest price per litre at N816.92 while the North-East zone had the highest price at N856.42 per litre. (NAN)

Source: Allnews Nigeria

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