The Premium Motor Spirit (PMS) report by the National Bureau of Statistics (NBS) has revealed that Nigerians paid up to N202.48 per litre of fuel in November 2022.
This signifies a 20.81% increase when compared to the N167.60 per litre recorded in November 2021.
Meanwhile, there was a 3.68% increase in fuel price between N195.29 recorded in October 2022 and N202.48 recorded in November 2022.
Prices by states: The states with the highest fuel prices during the period under review are-
- Kwara – N217.14
- Enugu – N215.71
- Gombe – N215
Meanwhile, the states with the lowest average prices were-
- Ekiti – N189.06
- Akwa Ibom – N189.33
- Delta – N190
Across zones, fuel prices vary as follows-
- North Central – N207.35
- North West – N200.98
- North East – N204.41
- South East – 204.91
- South West – N202.50
- South-South – N194.58
Kerosene price in November: The National Household Kerosene Price Watch by the NBS showed that the average retail price per litre of kerosene in November 2022 was N1,083.57, indicating an increase of 4.08% compared to N1,041.05 recorded in October 2022.
Meanwhile, there was a 145.68% increase in kerosene price per litre at N441.06 recorded in November 2021 and N1,083.57 recorded in November 2022. States with the highest average kerosene prices per litre were highlighted in the report as follows:
- Akwa Ibom – N1,416.67
- Cross River – N1,366.67
- Abuja – N1,306.67
Meanwhile, the states with the lowest average kerosene prices per litre were:
- Borno – N875.83
- Rivers – N910
- Nasarawa – N913.56
The average prices per litre across zones were:
- North Central – N1,092.25
- North West – N983.83
- North East – N958.80
- South East – N1,208.77
- South West – N1,163.49
- South-South – N1,130.35
Kerosene price per gallon: According to the NBS report, kerosene prices per gallon rose 2.21% to N3,594.44 in November 2022 from N3,516.87 recorded in October 2022. Also, the kerosene price per gallon rose 132.80% to N3,594.44 in November 2022 from N1,544.01 recorded in November 2021. The states with the highest average prices per gallon were:
- Kwara – N4,505.83
- Enugu – N4,302.21
- Abia – N4,238.46
Meanwhile, the states with the lowest average prices per gallon were:
- Gombe – N2,430.50
- Borno – N2,500
- Bauchi – N2,766.67
The prices per gallon across zones were:
- North Central – N3,811.07
- North West – N3,652.19
- North East – N2,997.86
- South East – N4,124.55
- South West – N3,526.82
- South-South – N3,496.78
Diesel price in November: The average retail price of Automotive Gas Oil (Diesel) paid by consumers in November 2022 was N808.87 per litre. The price signified a 191.14% increase from the N277.83 recorded in November 2021 and a 0.97% rise from the N801.09 recorded in October 2022.
The states with the highest average prices per litre of diesel were:
- Ebonyi – N8669
- Plateau – N865
- Nasarawa – N858.89
The states with the lowest average prices per litre of diesel were:
- Akwa Ibom – N750
- Benue – N772
- Borno – N780.50
The average prices per litre of diesel across zones were:
- North Central – N826.88
- North West – N802.64
- North East – N799.98
- South East – N817.93
- South West – N821.62
- South-South – 783.73
