Petrol price increases by 17.10 pct in December, says NBS

The National Bureau of Statistics, NBS, stated that the average price of Premium Motor Spirit (PMS), popularly known as petrol, increased by 17.10 per cent year-on-year in December 2017.

It also stated that average price also increased by 17.98 per cent month-on-month to ₦171.8 in December 2017 from ₦145.6 in November 2017.

The bureau disclosed this in its Premium Motor Spirit (Petrol) Price Watch and National Household Kerosene price watch for December.

According to the stats office, states with the highest average price of petrol were Abia (₦220.4), Kebbi (₦210.08) and Anambra (₦210). It reported further that states with the lowest average price of petrol were Ekiti (₦146), Abuja FCT (₦146.53) and Lagos (₦149.83).

The stats office also stated that the average price paid by consumers for automotive gas oil (diesel) increased by 3.29 per cent month-on-month and by 4.87 per cent year-on-year to ₦205.81 in December 2017 from ₦199.26 in November 2017.

“States with the highest average price of diesel were Kaduna (₦250.63), Adamawa (₦235) and Taraba (₦227). States with the lowest avaerage price of diesel were Bayelsa (₦184), Akwa Ibom (₦187.78) and Zamfara (190).

The bureau stated further that average price per litre paid by consumers for household kerosene increased by 6.32 per cent month-on-month and 22.50 per cent year-on-year to ₦284.03 in November 2017 from ₦267.14 in November 2017.

“States with the highest average price per litre of kerosene were Zamfara (₦250), Yobe (₦270) and Taraba (₦266.67).

“Similarly, the average price per gallon paid by consumers for household kerosene decreased by -0.32 per cent month-on-month and increased 1.59 per cent year-on-year to ₦1,048,97 in December 2017 from ₦1,052.33 in November 2017.

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