The average retail price paid by Nigerians for Premium Motor Spirit (PMS), also known as petrol, increased by 29.81 percent in the 12 months to November 2022, making a mockery of the government-regulated price of N165 per litre, data from the National Bureau of Statistics (NBS) has shown.
The average retail price rose from N168 per litre to N202 in November. On a month-on-month basis, it increased by 3.68 percent from N195 in October.
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