16 August 2018

Nigeria: Average Price of Petrol, Diesel Reduce in July - NBS

The average prices paid by Nigerians for petrol and diesel decreased by one per cent and less in July compared to the previous month, the National Bureau of Statistics (NBS) has said.

The NBS disclosed this in three reports published on its website on Tuesday and Wednesday.

From the report on petrol, published on Wednesday, Nigerians paid an average of N146.80 for a litre of petrol. This is a decrease by 0.09 per cent when compared t the N148.10 paid for the same quantity of petrol in June.

When compared to July 2017, Nigerians paid 0.9 per cent less for a litre of petrol

Borno retained its position as the state where Nigerians paid highest for a litre of petrol with an average price of N155, N7.17 less than the average price of N162.17 it recorded in June.

Taraba replaced Kebbi as the state with the second highest average price of a litre of petrol at N151.82. Bayelsa replaced Sokoto as the state where Nigerians paid the third highest average prices for petrol at N151.67

In June, the state with the third highest average price of pertrol was Sokoto at N154.20. This shows that there has been a decrease of at least three naira compared to the figure recorded to the state in the same position in July.

However, like Borno State, Oyo also maintained its position as the state which has the lowest average price of petrol per litre at N144.72. This figure is 42k higher than the N144.30 recorded in the previous month

Katsina and Gombe States replaced FCT Abuja, and Lagos as the states where Nigerians bought a litre of petrol for the second and third lowest average prices in July.

The region where people paid the most for petrol was the North-east at N148.17 while the South-west was recorded as the region with the lowest average price of petrol at N145.71

From the diesel report, consumers paid an average of N204.32 for a litre of diesel.

This was a 0.32 per cent decrease from the N2014.97 recorded as the average price per litre for the previous month. .

When compared to July 2017 at N197.62, the average price of diesel increased by 3.39 per cent this year.

Borno State had the highest average price of diesel at N247.50, followed by Taraba and Gombe States at N231.25 and N228.33.

However, Nasarawa had the lowest average price of diesel at N175.83 followed by Adamawa and Abuja at N180. 35 and N184 respectively.

The previous month, Nasarawa had the lowest average price of diesel at N175.41 followed by Adamawa and Abuja at N180 and N185.03 respectively.

On the regional level, the North-east was the region where Nigerians paid the highest average price for diesel at N215.82. The South-south had the lowest average price for diesel at N195.87.

The report, showed that the average price of kerosene per litre was N276.87 in July.

The average price paid per litre decreased by one per cent from 279.67 in June and by 1.29 per cent from the N280.49 recorded the previous year.

States with the highest average price per litre of kerosene were Yobe (N310), Nasarawa (N306.19) and Bayelsa (N304.72).

Borno, Abia and Kogi, which were the states with the lowest average prices of kerosene at N226.67 N235.01 and N243.52 respectively in June, switched places in July.

Abia had the lowest average price for a litre of kerosene at N227.50, Borno had the second lowest average price for the same quantity of kerosene at N236.67 and Kogi recorded the third lowest average price at N238.89.

Compared to the other geo-political zones, the South-west had the lowest average price per litre of kerosene at N265.54 while the South-south had the highest average price at N283.23

The average price paid by consumers stood at N1000.19 per gallon of kerosene. This shows a 0.41 per cent decrease when compared to the N1004.29 recorded in June.

Borno State has the highest average price per gallon of kerosene at N1130. Jigawa and Bauchi States closely followed N1115.38 and N1070 respectively.

States with the lowest average price per gallon of kerosene were Oyo at N900.59, Delta at N900.73 and Rivers at N921.05.

Somehow, though there was a decrease in the average price per gallon in July as the prices paid in the states that recorded the lowest average prices increased compared to June except Oyo State which by decreased by three naira.

In June, states with the lowest average prices per litre of kerosene were Oyo at N903.33, Delta at N891.92 and Rivers at N890.74.

The South-west was the zone with the lowest average price of kerosene per gallon at N982.29 and the North-east recorded the highest average price per gallon at N1024.30.

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