Petrol Price Hits N950 Per Liter in Nigeria

 

Petrol price increased to N950 per litre in July 2024, according to the Nigeria Bureau of Statistics.

 

NBS said this is the highest price of Premium Motor Spirit (Petrol) being sold.

 

According to NBS July’s Petrol Price Watch, Katsina State has the highest price of N950 per liter.

 

This is followed by Jigawa and Benue States with N903.08 and N846.95, respectively.

 

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

 

NBS puts the average price of petrol in the month under review at N770.54 per liter.

 

Recall that the Nigerian government introduced fuel subsidy removal, which saw the price of the product increase from N238 per liter in May 2023 to N770.54 average price in July 2024.