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National Bureau of Statistics (NBS) reported that the average petrol price in November 2024 was N1,214.17 per litre.


The National Bureau of Statistics (NBS) reported that the average retail price of petrol rose to N1,214.17 per litre in November 2024, compared to N648.93 in November 2023, representing an 87.10% increase. This information was revealed in the bureau’s Petrol Price Watch for November 2024, released in Abuja.
The NBS noted a 2.48% increase in petrol prices from October 2024’s average of N1,184.83 per litre.
State-level analysis showed that Benue recorded the highest average price at N1,365.16 per litre, followed by Borno (N1,331.94) and Adamawa (N1,319.85). In contrast, the lowest prices were observed in Lagos (N1,092.79), Katsina (N1,121.25), and Kano (N1,152.86).
Regionally, the South-East Zone had the highest average petrol price in November at N1,257.72 per litre, while the South-West Zone recorded the lowest at N1,153.94 per litre.
Diesel Price Watch
The NBS also reported that the average price of diesel in November 2024 was N1,446.83 per litre, a 37.07% increase compared to N1,055.57 in November 2023, and a 0.38% rise from October 2024’s N1,441.28 per litre.
State analysis showed Bauchi recorded the highest average diesel price at N2,232.04 per litre, followed by Gombe (N1,770.59) and Borno (N1,751.15). The lowest diesel prices were recorded in Oyo (N1,250.71), Ogun (N1,258.08), and Lagos (N1,262.38).
On a zonal basis, the North-East Zone had the highest diesel price, averaging N1,676.11 per litre, while the South-West Zone recorded the lowest at N1,303.61 per litre.
Dangote Refinery Price Reduction
In a related development, Dangote Refinery announced a further reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol. The company disclosed this in an official statement.