The National Bureau of Statistics has reported a startling 226.75% increase in the price of petrol compared in 2023 to the previous year.

This declaration comes from the NBS’s Petrol Price Watch for September 2023 released on Saturday, with the average retail price of a liter of petrol soaring from N191.65 in September 2022 to a staggering N626.21 in September 2023.

In addition, when compared to August 2023, the average retail price in September increased slightly by 0.08% from N626.70.

On a regional level, Taraba had the highest average retail price at N665.56 per liter, followed by Borno and Benue at N657.37 and N641.29, respectively.

In contrast, Rivers, Delta, and Jigawa paid the lowest average retail prices at N602.55, N605.88, and N617.42, respectively.

Analysis by zones showed that the North-East had the highest average retail price in September 2023 at N638.33, while the South-South had the lowest at N618.47 per liter.

The NBS also provided data on diesel prices. According to its Diesel Price Watch Report for September 2023, the average retail price for diesel was N890.80 per liter.

This marked a 12.77% increase from the N789.90 per liter recorded in September 2022. The price increased by 4.27% from N854.32 per liter in August 2023.

On a state profile analysis, Kano had the highest average diesel price in September 2023 at N967.78 per liter, followed by Anambra at N950.95 per liter and Niger at N950.55 per liter.

In contrast, Bayelsa recorded the lowest diesel price at N840.16 per liter, followed by Katsina at N840.55 per liter and Rivers at N840.82 per liter.

Analysis by zones revealed that the South-East had the highest diesel price at N918.06 per liter, while the South-South recorded the lowest at N863.97 per liter.