NBS Reveals Drop In Price of Petrol, Diesel, Across The Country

Statistician-General of the Federation and Chief Executive Officer National Bureau of Statistics, Dr.Yemi Kale

NBS Shows The Price Of Petrol Has Decreased In May, 2018.

The National Bureau of Statistics has revealed that the average price of petrol decreased by 0.8 per cent to ₦150.2 in May 2018 from the ₦151.4 recorded for April 2018.

The average price of petrol also decreased by 0.3 per cent when compared to the average price of ₦150.7 recorded for May 2017.

This information was contained in a report titled, Premium Motor Spirit (Petrol) Price Watch, published on Tthe Bureau’s website on Wednesday.

In another report the Bureau revealed that the average price per litre paid by consumers for diesel increased by 0.65 per cent to ₦205.67 in May 2018 from the average price of ₦204.35 recorded in April 2018.

The average price for diesel also decreased by 4.9 per cent when compared to the average price of ₦216.30 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 ₦278.49 recorded the previous month.

When compared to the average price of ₦303.29 recorded in May 2017, the average price paid for kerosene decreased by 7.58 per cent to ₦280.29, the bureau disclosed.

Borno State had the highest average price per litre of petrol in May 2018 at ₦166.08. Benue State had the second highest average price per litre for the month at ₦160.31.

After which Akwa Ibom followed with an average price per litre of Petrol at ₦159.44.

Katsina State had the lowest average price of petrol at ₦144.82 closely followed by Kano at ₦144.87.

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 ₦144.93.

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 ₦145.97, while the North-east recorded the highest average price per litre at ₦153.67 for the month.

Just as recorded in the previous quarter, Taraba State had the highest average price per litre of diesel for May at ₦253.33. Gombe State had the second highest average price per litre for the month at ₦227.5.

The state with the third highest average price per litre of diesel was Kebbi at ₦224.5.

Nasarawa State recorded the lowest average price of diesel at ₦162.27 followed by the Federal Capital Territory at ₦183. Adamawa State had the third lowest average price of diesel at ₦186.67 for May 2018.

At the zonal level, the North-central recorded the lowest average price per litre for diesel at ₦200.28, while the North-east recorded the highest average price per litre at ₦218.04.

Similarly, Kerosene’s highest average price at ₦327.50 in the Fedeal Capital, Abuja, while Yobe followed with ₦313.33.
Cross River State recorded the third highest average price at ₦310.19 for May 2018.

Borno State recorded the lowest average price of kerosene for the month at ₦233.33. It was followed by Abia and Kogi at ₦235.52 and ₦251.04 respectively.

Comparing the average prices between zones, the South-west recorded the lowest average price of kerosene at ₦274.10.

The South-east recorded the highest average prices of kerosene in May 2018 at ₦288.22.