Average prices for petrol, others drop in March — NBS

The National Bureau of Statistics (NBS), on Wednesday, said the average prices paid by consumers for Premium Motor Spirit (petrol), Kerosene, Liquefied petroleum gas (cooking gas) and Automotive Gas Oil (Diesel) dropped in March by 5.3 percent to N163.4 from N172.5 in February 2018 while price for Kerosene decreased by 6.79 percent to N269 in March from N288.57 in February 2018.

According to the NBS, average price paid for refilling a 5 kilogramme cylinder of cooking gas declined by 3.03 percent to N2,091 from N2, 156 paid in February while price paid for diesel dropped by 1.65 percent to N206.4 in March from N210 average paid in February.

In the report titled, ‘Price Watch’ for Premium Motor Spirit (petrol), National Household Kerosene, Liquefied petroleum gas (cooking gas) and Automotive Gas Oil (diesel), the NBS said, “Average price paid by consumers for petrol increased by 9.4 percent year-on-year (YoY) and 5.3 percent month-on-month (MoM) to N163.4 in March 2018 from N172.5 in February 2018.

States with the highest average price of petrol were Taraba (N184.38), Jigawa (N180.93) and Ekiti (N173.89), while States with the lowest average price of petrol were Kaduna (N147.29), Bauchi (N145.57) and Abuja (N145).

On kerosene, the report stated that: “Average price per litre paid by consumers for Kerosene decreased by 6.79 percent MoM and 13.66 percent YoY to N269 in March 2018 from N288.57 in February 2018.

“States with the highest average price per litre of kerosene were Nasarawa (N306.07), Yobe (N300.78) and Cross River (N300.68).

States with the lowest average price per litre of kerosene were Abia (N229.35), Delta (N227.77) and Borno (N225.13).

On cooking gas, the report stated that: “Average price for the refilling of a 5kg cylinder for cooking gas decreased by 3.03 percent MoM and decreased by 16.16 percent YoY to N2,091 in March 2018 from N2, 156 in February 2018.

“States with the highest average price for the refilling of a 5kg cylinder for Liquefied cooking gas were Borno (N2487.50), Yobe (N2500) and Bauchi (N2400). States with the lowest average price for the refilling of a 5kg cylinder for cooking Gas were Abuja (N1,760.00), Ebonyi (N1,870) and Ekiti (N1,895).”