Petrol price stands at N679.36 in February –NBS

NBS says petrol price stands at N679.36 in February

COMFORT EKELEME

The National Bureau of Statistics (NBS) has said that the average retail price of a litre of petrol increased from N263.76 in February 2023 to N679.36 in February 2024.

The Bureau said this in its Petrol Price Watch for February 2024, released in Abuja on Wednesday.

According to the Bureau, the February 2024 price of N679.36 represented a 157.57 per cent increase over the price of N263.76 recorded in February 2023.

The Bureau said,“Comparing the average price value with the previous month of January 2024, the average retail price increased by 1.66 per cent from N668.30.

“On state profile analysis, Zamfara paid the highest average retail price of N750.43 per litre, followed by Kebbi and Taraba at N746.67 and N710.56, respectively.

“Conversely, Kwara, Ogun and Benue paid the lowest average retail price at N650.00, 650.83 and 652.73,” the bureau said.

The report said analysis by zones showed that the North-West zone recorded the highest average retail price in January 2024 at N701.20, while the South-West recorded the lowest price at N657.20 per litre.