The Average Retail price of Premium Motor Spirit, popularly known as Petrol, increased by 226.75 per cent to N626.21 per litre from N191.65 per litre in the corresponding month last year.

The National Bureau of Statistics (NBS) disclosed this on Saturday in Petrol Price Watch for September 2023.

On State profile analysis, Taraba State had the highest average retail price for Premium Motor Spirit (Petrol), at N665.56; Borno and Benue States were next, with N657.37 and N641.29, respectively.

On the other hand, Rivers, Delta and Jigawa States had the lowest average retail prices for Premium Motor Spirit (Petrol), at N602.55, N605.88 and N617.42, respectively.

Meanwhile, zonal analysis showed that the North-East Zone, ravaged by the Boko-Haram crisis, had the highest average retail price of N638.33, while the South-South Zone had the lowest price of N618.47.

The development comes as the federal government removed fuel subsidy in June 2023, leading to the jump in the pump from N191 per litre to over N600/per litre.

Average pump price of fuel increased by 226 per cent – NBS