Diesel price jumps by 202.67% y-o-y, says NBS

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National Bureau of Statistics (NBS) says the average retail price of Automotive Gas Oil (AGO), also known as diesel, paid by consumers increased by 202.67 per cent on a year-on-year basis.

In its AGO Price Watch (June 2022) report, the NBS said the price of diesel rose from a lower cost of N242.43 per litre recorded in the corresponding month of June last year (2021) to a higher cost of N733.78 per litre in June 2022.

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Furthermore, the report indicates that “on a month-on-month basis, an increase of 9.34 per cent was recorded from N671.08 in the preceding month of May to an average of N733.78 in June 2022.

Looking at the variations in the state prices, the NBS said the top three states with the highest average price of the product in June 2022 include; Kwara (N800.00), Delta (N798.50) and Katsina (N786.36).

Furthermore, the top three lowest prices were recorded in Bauchi (N650.00), Yobe (N675.00) and Kogi (N678.00).

The Zonal representation of the average price of diesel shows that North-West has the highest price of N758.79 while North East has the lowest price of N715.00 when compared with other zones in the country.

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