N650/litre: Top 10 States to Buy Cheap Petrol in Nigeria as Filling Stations Adjust Pump Prices

• A new report from the National Bureau of Statistics has shown that petrol prices increased in July 2024
• The data from the report showed that the price of a litre of petrol was sold at an average price of over N700 across the country
• The state with the lowest petrol price in the country was Kwara, followed by Edo and Akwa Ibom

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The National Bureau of Statistics says the average retail price of a litre of the Premium Motor Spirit, popularly known as petrol, increased by N770.54 in July 2024.

This represents a 28.35% increase compared to the N600.35 per litre average price value recorded in July 2023.

NBS stated this in its latest PMS price watch report published on its website, which was analysed by Legit.ng.

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The report also showed that the amount Nigerian motorists paid in July 2024 is a 2.72% increase from N750.17 paid in June 2024.

Petrol prices differ by states

Furthermore, the NBS provided a breakdown of states analysis and showed that Katsina state had the highest average retail price for petrol.

Conversely, Kwara, Edo, and Akwa Ibom states residents paid the lowest petrol prices.

States with the cheapest price of petrol

• Kwara: N650.00
• Edo: N669.75
• Akwa Ibom: N673.75
• Abuja: N677.00
• Cross River: N677.78
• Delta: N680.00
• Bayelsa: N684.00
• Rivers: N684.55
• Lagos: N693.82
• Ogun: N742.22

States with the highest prices

• Katsina: N950
• Jigawa: N903.08
• Benue: N846.95
• Osun: N842.14
• Borno: N829.46
• Taraba: N826.55
• Kebbi: N822.14
• Bauchi: N816.25
• Adamawa: N809.73
• Gombe: N809.15

Filling stations adjust pump price

Earlier, Legit.ng reported that fuel prices at filling stations in Abuja and other Nigerian cities have surged to a new high due to scarcity.

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Nigerians have expressed their disappointment as transporters pass the cost of petrol price to passengers.

NNPC has assured us that the product is available and has made moves to solve the logistic challenges.

Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng