Nigeria’s Cheapest States to Buy Petrol: NBS Releases Petrol Prices.

Recently, the National Bureau of Statistics (NBS) published a list that identifies the states in Nigeria that have the lowest prices for purchasing (PMS)fuel, as well as the states that have the highest prices of petroleum products (PMS).

The National Bureau of Statistics (NBS) provides information that not only displays the regional average cost of gasoline but also compares the prices from the previous month, which was February.

Taraba, Yobe, and Adamawa are on the list of the most expensive states to buy petrol

According to the NBS, Consumers paid an average retail price of N696.79 for Premium Motor Spirit (Petrol) for the month of March 2024. This is a 163.65% increase when compared to the figure that was reported in March 2023, which was N264.29.

Similarly, when the average retail price is compared to the value of the average price from the previous month (that is, February 2024), the average retail price has climbed by 2.56%, going from N679.36.

Upon conducting a review of the state profiles, it was determined that Taraba State had the highest average retail price for Premium Motor Spirit (Petrol), which was N761.92.

Yobe and Adamawa States came in second and third, respectively, with N749.09 and N735.00.

Lagos, Oyo, and Ogun Lead the List of the states with the lowest cost of petrol.

On the other hand, the average retail prices for Premium Motor Spirit (Petrol) were the lowest in the states of Lagos, Oyo, and Ogun, with prices of N630.75, N645.88, and N651.25, respectively.

Finally, according to the Zonal profile, the North East Zone had the highest average retail price, which was N732.37, while the South West Zone had the lowest price, which was N654.24.

States With The Highest Average Prices Of PMS (Petrol)

State	Price of PMS
Taraba	761.92
Yobe	749.09
Adamawa	735.00

States With The Lowest Average Prices Of PMS (Petrol)

State	Price of PMS
Lagos	630.75
Oyo	645.88
Ogun	651.25

Average Prices Of PMS (Petrol) in Zones

Zones	Average Prices
South East	712.30
North Central	681.76
North East	732.37
South South	701.54
South West	654.24
North West	702.63

Full List Of Average Prices Of PMS (Petrol) For States.

State	Average Price of PMS (March 2024)
Abia	710.83
Abuja	695.60
Adamawa	735.00
Akwa Ibom	704.44
Anambra	701.25
Bauchi	707.14
Bayelsa	707.14
Benue	700.70
Borno	721.75
Cross River	710.00
Delta	696.88
Ebonyi	710.71
Edo	685.00
Ekiti	661.56
Enugu	713.13
Gombe	719.33
Imo	725.56
Jigawa	708.33
Kaduna	683.93
Kano	685.71
Katsina	694.17
Kebbi	727.20
Kogi	690.59
Kwara	665.68
Lagos	630.75
Nassarawa	700.32
Niger	657.15
Ogun	651.25
Ondo	663.85
Osun	672.14
Oyo	645.88
Plateau	662.27
Rivers	710.91
Sokoto	715.00
Taraba	761.92
Yobe	749.09
Zamfara	704.09

Data source: National Bureau of Statistics

Marketers Expect New Fuel Prices

A report that was published earlier by ogaprice.com stated that the price of petrol at the pump at the Dangote and PH refineries is on the verge of falling to N500 per liter.

Marketers are optimistic that when the refinery eventually begins to release products, it will contribute to a reduction of N150 in the price of petrol.

Having already taken the courageous move of lowering the price of diesel from N1,700 to N1,000 per liter, the Dangote Refinery has already made this daring step.