The average retail price of Premium Motor Spirit, popularly known as Petrol in Nigeria for May 2024 surged by 223.21 percent to N769.62 per litre, compared to N238.11 per litre in May 2023.

This data is sourced from the National Bureau of Statistics, Premium Motor Spirit Price Watch report for May 2024.

The report also highlighted that, month-on-month, the average retail price in May 2024 increased by 9.75 percent, up from N701.24 in April 2024. Furthermore, the report noted that while N769.62 was the national average retail price per litre of petrol in May 2024, each geopolitical zone had its respective average prices.