In July 2024, the national average retail price of petrol climbed to N770.54 per litre, reflecting a significant 28.35% increase from N600.35 per litre recorded in the same month of 2023, according to the National Bureau of Statistics (NBS).
This rise marks a continued upward trend, with the price also rising 2.72% from the previous month’s average of N750.17 in June 2024.
Regional variations in petrol prices are pronounced. Katsina State recorded the highest average price at N950.00 per litre, followed by Jigawa State at N903.08 and Benue State at N846.95. On the lower end, Kwara State had the least average price at N650.00 per litre, with Edo State and Akwa Ibom State at N669.75 and N673.75, respectively.
From a regional perspective, the North-West Zone reported the highest average petrol price at N820.10 per litre, while the South-South Zone had the lowest average price at N678.30 per litre.
This substantial price increase highlights ongoing regional disparities and reflects broader trends in the national fuel market.
