The price of Premium Motor Spirit (PMS), commonly referred to as petrol, has witnessed a significant surge over the past year, reaching an average of N1,184.83 nationwide as of October 2024.
According to the latest data from the National Bureau of Statistics (NBS), petrol prices have risen by 87.88% between October 2023 and October 2024.
The Premium Motor Spirit Price Watch report revealed that the commodity's price jumped by 14.98%, from N1,030.46 in September 2024 to N1,184.83 in October 2024.
However, fuel prices vary across Nigeria's 36 states, causing consumers in some regions to pay more for petrol.
Given Nigeria's heavy reliance on petrol-powered generators and vehicles due to inconsistent electricity supply, higher fuel prices in certain states often lead to increased operational costs for businesses and households.
This, in turn, drives up the cost of goods and services in these areas.
Below are the top ten states where consumers paid the most for petrol as of October 2024, listed from the lowest to the highest.
10. Imo State
Imo State continues to have high petrol prices, with residents paying an average of N1,237.48 per liter in October 2024.
While slightly above the national average, this price is among the highest across the 36 states, driving up living costs and operational expenses for both households and businesses in the state.
9. Taraba State
Taraba State ranks ninth on the list of states with the highest petrol prices as of October 2024.
The NBS data shows that residents in this Northcentral state paid an average of N1,243.9 per liter of petrol last month.
8. Bayelsa State
Bayelsa State is one of the most expensive states for petrol in October 2024.
According to the Premium Motor Spirit Price Watch report, the average price of petrol in the state was N1,250 per liter.
7. Cross River State
Cross River State ranks seventh among the states with the highest fuel prices in Nigeria as of October 2024.
The report indicates that residents of this South-South state paid N1,255.56 per liter of petrol on average during the month.
6. Akwa Ibom State
Akwa Ibom State, another South-South state, closely follows Cross River in fuel pricing.
The NBS data reveals that residents paid an average of N1,258.3 per liter of petrol in October, making it the sixth most expensive state for petrol in the country.
5. Abia State
Abia State ranks fifth among states with the highest petrol prices in October 2024.
The data shows that residents in the state paid an average of N1,278.125 per liter during the month.
4. Anambra State
Anambra State ranks fourth on the list, with residents paying N1,283.13 per liter of petrol in October 2024.
The state is also the second most expensive for fuel in the Southeast region, trailing only Ebonyi State.
3. Borno State
Borno State, in the Northeast, is the third most expensive state for petrol in October 2024.
NBS data shows that residents paid an average of N1,283.7 per liter last month.
2. Jigawa State
Jigawa State ranks as the second most expensive state for petrol in October 2024 and the highest in the Northwest region.
Residents in Jigawa paid an average of N1,288.18 per liter of petrol during the month.
1. Ebonyi State
Ebonyi State tops the list as the most expensive state for petrol in October 2024.
According to NBS data, a liter of petrol in Ebonyi State cost an average of N1,292.8, making it the highest in the country.
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