Price of petrol, diesel drop in June – NBS

The National Bureau of Statistics, NBS, yesterday said average price paid by consumers for Premium Motor Spirit, PMS, popularly known as petrol, fell by 1.5 percent year-on-year, YoY, and 1.4 percent month-on-month, MoM, to N148.1 in June 2018.


The report further stated that states with the highest average price of premium motor spirit (per litre)  were Borno (N162.17), Kebbi (N158.24) and Sokoto (N154.20), while states with the lowest average price of premium motor spirit were Lagos (N144.90), Abuja (N144.50) and Oyo (N144.30).

Also, the agency reported that the average price paid by consumers for automotive gas oil (diesel) decreased by 0.34 percent MoM and 2.59 percent YoY to N204.97 in June 2018 against N205.67 in May 2018.

While Taraba, Gombe and Kebbi states recorded the highest average price of the products at N255.12, N288.02 and N227.50 respectively, Abuja, Adamawa and Nasarawa recorded the lowest average price of diesel at N185.03, N180  and N175.41 respectively in June.

Meanwhile, the average price per litre paid by consumers for national household Kerosene decreased by 0.22 percent MoM and decreased by 2.64 percent YoY to N279.67 in June 2018 against N280.29 in May 2018.

States with the highest average price per litre of kerosene include Abuja (N319.44), Yobe (N309.52) and Enugu (N309.17). States with the lowest average price per litre of kerosene include Kogi – N243.52; Borno – N235.01 and Abia at N226.67.

The report, however, noted that the average price per gallon paid by consumers for the product increased by 2.10 percent MoM and 0.93 percent YoY to N1004.29 in June 2018 from N983.67 in May 2018.

However, the average price for the re-filling of a 5kg cylinder of Liquefied Petroleum Gas (LPG), otherwise known as cooking gas, decreased by 1.80 percent Month-on-Month, MoM, and 8.17 percent Year-on-Year, YoY, to N2,034.93 in June 2018 from N2,072.24 in May this year.

States with the highest average price for the refilling of a 5kg cylinder for LPG were Bauchi (N2,500.06), Borno (N2,465.33) and Gombe (N2,360.95). States with the lowest average price for the refilling of a 5kg cylinder for LPG were Abuja (N1,795.00), Kaduna (N1,716.67) and Ebonyi (N1,699.66).

The report stated, “Average price for the refilling of a 12.5kg cylinder for LPG decreased by 0.46 percent month-on-month and 4.38 percent  year-on-year to N4,278.95 in June 2018 from N4,298.72 in May 2018. States with the highest average price for the refilling of a 12.5kg cylinder for LPG were Benue (N4,900.21), Kaduna (N4,750.00) and Cross River (N4,650.00). ”

Other states with the lowest average price for the refilling of a 12.5kg cylinder for LPG were Oyo (N3,831.94), Ogun (N3,809.09) and Lagos(N3,613.04) respectively.