By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Petrol Prices Soar 37% Year-on-Year in Nigeria – NBS Report
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Petrol Prices Soar 37% Year-on-Year in Nigeria – NBS Report

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: July 17, 2024
Share
2 Min Read
SHARE

The national average retail price for Premium Motor Spirit (PMS), commonly known as petrol, rose by 37.44% year-on-year (YoY) to N750.17 per litre in June 2024, up from N545.83 per litre recorded in the same period in 2023.

On a month-on-month (MoM) basis, the average retail price saw a decrease of 2.53%, down from N769.62 per litre in May 2024.

According to the National Bureau of Statistics (NBS) report on Premium Motor Spirit (Petrol) Price Watch for June 2024, Benue State had the highest price at N864.55 per litre.

Jigawa and Rivers States followed with prices of N847.00 and N810.00 per litre, respectively.

- Advertisement -

In contrast, Lagos, Kwara, and Ogun States recorded the lowest retail prices for petrol at N626.94, N650.00, and N670.63 per litre, respectively.

Regionally, the South-South zone had the highest average retail price at N794.64 per litre, while the South-West zone had the lowest at N696.42 per litre.

The average retail price of Automotive Gas Oil, also known as diesel, experienced a significant year-on-year increase of 79.32%, reaching N1462.98 per litre in June 2024, compared to N815.83 per litre in June 2023.

On a month-on-month basis, diesel prices rose by 4.20%, up from N1403.96 per litre in May 2024.

- Advertisement -

The NBS report highlighted that Niger State had the highest average diesel price in June 2024 at N1979.23 per litre, followed by Cross River State at N1920.86 and Taraba at N1742.46.

Conversely, the lowest prices were observed in Lagos State at N1210.77 per litre, Ogun State at N1239.17, and Abuja at N1240.00 per litre.

Zonal representation showed that the North East Zone had the highest average diesel price at N1659.07 per litre, while the South West Zone recorded the lowest average price at N1280.54 per litre.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:NBSPetrol Price
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Borno Government Refutes Reports of Governor’s Son’s Arrest in India
Next Article Tinubu Unveils NELFUND Portal for Students Loan

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Dangote Refinery Unveils N720bn CNG Truck Fleet to Slash Fuel Costs, Save Nigeria Over N1.7trn Annually
Energy & Oil
Nigerian Troops Neutralize Terror Kingpin Mai Dada, Recover Arms in Multi-Region Operations
Security
NNPP Welcomes Possibility of Rabiu Kwankwaso Joining APC Amidst Ganduje’s Resignation
News
Tinubu’s State Visit to Saint Lucia Marks Historic Diplomatic and Cultural Engagement, Presidency Clarifies
International News
President Bola Tinubu Suspends Implementation of Financial Reporting Council Amendment Act 2023
News
- Advertisement -
Ad imageAd image

You May Also Like

News

Aminu Dantata to be Buried in Madinah After Saudi Approval

Muhammad A. Aliyu
Muhammad A. Aliyu
June 29, 2025
CrimeVideo

VIDEO: NDLEA Issues Strong Advisory to Travellers Against Carrying Unknown Bags

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
News

SERAP Demands Transparency from Nigeria’s Governors on Security Vote Spending

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?