NBS: Average petrol price decreased across Nigeria in May

The average price per litre paid by consumers for petrol decreased by 0.8 per cent to N150.2 in May 2018 from the N151.4 recorded for April 2018, the National Bureau of Statistics (NBS) has said.

The average price of petrol also decreased by 0.3 per cent when compared to the average price of N150.7 recorded for May 2017.

The bureau disclosed this in a report titled Premium Motor Spirit (Petrol) Price Watch, published on its website on Wednesday.

Also, a report titled Automotive Gas Oil (Diesel) Price Watch, which was also published on the bureau’s website on Wednesday, showed that the average price per litre paid by consumers for diesel increased by 0.65 per cent to N205.67 in May 2018 from the average price of N204.35 recorded in April 2018.

The average price for diesel also decreased by 4.9 per cent when compared to the average price of N216.30 recorded for May 2017.

Like the average price of diesel, kerosene also recorded an increase by 0.65 per cent in May 2018 from the N278.49 recorded the previous month.

When compared to the average price of N303.29 recorded in May 2017, the average price paid for kerosene decreased by 7.58 per cent to N280.29, the bureau disclosed.

Borno State had the highest average price per litre of petrol in May 2018 at N166.08. Benue State had the second highest average price per litre for the month at N160.31.

The state with the third highest average price per litre of Petrol was Akwa Ibom at N159.44.

Katsina State had the lowest average price of petrol at N144.82 closely followed by Kano at N144.87.

Bauchi State, which was recorded as the state with the lowest average price of petrol for the previous month, recorded the third lowest average price at N144.93.

At the zonal level, the South-west maintained its spot as the zone with the lowest average price per litre for petrol from April at N145.97, while the North-east recorded the highest average price per litre at N153.67 for the month.

Just as recorded in the previous quarter, Taraba State had the highest average price per litre of diesel for May at N253.33. Gombe State had the second highest average price per litre for the month at N227.5.

The state with the third highest average price per litre of diesel was Kebbi at N224.5.

Nasarawa State recorded the lowest average price of diesel at N162.27 followed by the Federal Capital Territory at N183. Adamawa State had the third lowest average price of diesel at N186.67 for May 2018.

At the zonal level, the North-central recorded the lowest average price per litre for diesel at N200.28, while the North-east recorded the highest average price per litre at N218.04.

For kerosene, the FCT, Abuja recorded the highest average price at N327.50 followed by Yobe at N313.33. Cross River State recorded the third highest average price at N310.19 for May 2018.

Borno State recorded the lowest average price of kerosene for the month at N233.33. It was followed by Abia and Kogi at N235.52 and N251.04 respectively.

Comparing the average prices between zones, the South-west recorded the lowest average price of kerosene at N274.10.

The South-east recorded the highest average prices of kerosene in May 2018 at N288.22.

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