Petrol price drops as Borno, Taraba, Bayelsa pay higher -NBS

The National Bureau of Statistics (NBS) on Tuesday, said that average price paid by consumers for premium motor spirit (petrol) has decreased by -0.09 per cent year-on-year and -0.9 per cent month-on-month to N146.80 in July 2018 from N148.10 in June 2018.

States with the highest average price of premium motor spirit (petrol) were Borno (N155.00); Taraba (N151.82) and Bayelsa (N151.67).

The NBS in its July report, noted that states with the lowest average price of premium motor spirit (petrol) were Oyo (N144.72); KatsinaN144.06) and Gombe (N142.79)

Also, the average price paid by consumers for premium motor spirit (petrol) increased by 15.1 per cent year-on-year and 9.6 per cent month-on-month to N172.5 in February 2018 from N190.9 in January 2018.

States with the highest average price of premium motor spirit (petrol) were Plateau (N206.82); Osun (N201.29) and Edo (N200.83) while states with the lowest average price of premium motor spirit (petrol) were Katsina (N145.00); Abuja (N145.00) and Kogi (N147.06).

Field work is done solely by over 700 NBS staff in all states of the federation supported by supervisors who are monitored by internal and external observers.

Fuel prices are collected across all the 774 local governments across all states and the FCT from over 10,000 respondents and locations and reflect actual prices households state they actually bought those fuels together with the prices reportedly sold by the fuel suppliers.

The average of all these prices is then reported for each state and the average for the country is the average for the state.