Report Lists Places to Get Petrol at Cheapest Price in Nigeria, Delta, Lagos Top Chart

• In October 2024, consumers' average retail price for Premium Motor Spirit (Petrol) was N1184.83
• NBS data showed that this is an increase of 87.88% above the value published in October 2023 (N630.63)
• Delta, Nasarawa, Lagos and other regions have been identified as places that had cheap petrol during the period

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The average retail price that customers paid for Premium Motor Spirit (Petrol) in October 2024 was N1184.83, according to a recent report from the National Bureau of Statistics.

In comparison to the figure reported in October 2023 (N630.63), this represents an increase of 87.88%. The average retail price of petrol also rose 14.98% from N1030.46 to N1030.46 when compared to the previous month (September 2024).

Based on zonal profile, the data showed that the North-Central Zone had the lowest average retail price (N1132.94), while the South East Zone had the highest (N1256.76).

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The regions to get cheapest petrol price has been highlighted thus:

Delta

According to NBS report, the average price of fuel in Delta N1,050 in the month of October. This indicates a 4.24% rise from the N1,007 it sold in the region the month before. It also means a 75.18% rise in price in a year.

Nasarawa

In Nasarawa, prices of petrol averaged N1063.68 in october 2024, a 4.67% increase compared the N1,016.19 from the previous month. This also means a 66.16% increase year on year.

Lagos

Petrol price sold for N1,080.95 in Lagos in October. This represents a hike of 8.01% from the previous month and 82.92% year on year increase.

Niger

The average price of petrol was N1,088.07 in October according to NBS data. Research shows that this indicates 9.48% month on month hike and a 70.81% year on year increase.

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Katsina

Dealers in Katsina sold petrol for an average price of N1100.00. Tha amount shows a month on month increase of 0.35% and a year in year increase of 71.92%

Petrol Price Finally Crashes by Over N300/litre

Legit.ng reported that the pump price of Premium Motor Spirit (PMS), also known as gasoline, has decreased compared to a few weeks ago.

Based on recent survey, the pump price was observed to be between N1120 and N1,125 at petrol stations, as opposed to N1400 and N1500 per liter in prior weeks.

The survey revealed that, despite having a comparatively lower price than other stores run by independent marketers in the city, major marketers like the Nigerian National Petroleum Company Ltd.'s outlet off Itam junction, in the outskirts of Uyo, have fewer customers waiting in line to purchase their goods.

Source: Legit.ng