The average retail price of petrol in Nigeria record a sharp increase with the cost of a litre rising from
N626.70 in August 2023 to N830.46 in August 2024.
The significant surge represents a 32.51 percent year-on-year increase, signaling growing fuel costs.
The report, released on Monday, further highlighted that the average retail price of petrol also experienced a 7.78 percent jump from N770.54 in July 2024, reflecting the continued upward trend in the cost of the commodity.
Comparing the average price value with the previous month of July, the average retail price increased by 7.78 percent from N770.54.”
“Comparing the average price value with the previous month of July, the average retail price increased by 7.78 percent from N770.54,” the NBS noted.
