NBS says average price of petrol dropped in May

0
178

The National Bureau of Statistics (NBS) says the average price paid by consumers for Premium Motor Spirit, (Petrol) decreased to N150.2 in May from N151.4 paid in April.

The NBS, in its “Premium Motor Spirit (Petrol) Price Watch’’ released on its website, said the price decreased by -0.3percent year-on-year and -0.8percent month-on-month.

According to the report, states with the highest average price of PMS are Borno (N166.08), Benue (N160.31) and Akwa Ibom (N159.44), while the states with the lowest average price are Katsina (N144.82), Kano (N144.87) and Bauchi (N144.93).

Meanwhile, in the bureau’s “National Household Kerosene Price Watch’’ the price of Kerosene per litre increased from N278.49 in April to N280.29 in May.

“Average price per litre paid by consumers for National Household Kerosene increased by 0.65 percent month-on-month and decreased by -7.58 percent year-on-year to N280.29 in May from N278.49 in April.

“States with the highest average price per litre of kerosene were Abuja (N327.50), Yobe (N313.33) and Cross River (N310.19), while those with the lowest average price per litre are Borno (N233.33), Abia (N235.53) and Kogi (N251.04),’’  the report said.

According to the report, the average price per gallon paid by consumers for National Household Kerosene increased by 0.80percent month-on-month and decreased by -5.12percent year-on-year.

It noted that the price paid by consumers for a gallon of kerosene increased to N983.67 in May from N975.82 paid in April.

States with the highest average price per gallon of kerosene were Jigawa (N1,143.33), Yobe (N1130.00) and Adamawa (N1,088.89).

Amaka E. Nliam