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Yobe records highest petrol price in Nigeria

…Sold below N145/ltr in Katsina, Borno, Jigawa

By Prince Okafor

NATIONAL Bureau of Statistics (NBS) said Yobe State, North East Nigeria, recorded the highest price of N162.0 per litre of premium motor spirit (PMS) popularly known as petrol in November.

According to the PMS Price Watch report released by the NBS, Taraba emerged the second state that sold the product above government recommended price of N145/ litre, selling at N150.8/ litre in the State, while in Cross River State it sold for N150.4/ litre.

Meanwhile, the report stated that in Kastina State, the product sold at lowest price even below the recommended price at N 143.8. Other States that had the product at below benchmark price are Borno and Jigawa where it was sold at N144, and 144.3 respectively.

NBS said that the average price of PMS within the period under review stood at N146.7 compared to an average of N 145.9 witnessed in October.

In October, Osun, Plateau and Gombe states sold at the lowest prices of N 144.3, N 144.5 and N 144.7 respectively.

The report presents average monthly prices of PMS consumed by households across the 36 states and the FCT.

It could be recalled that the House of Representatives had urged the Petroleum Products Prices Regulatory Agency (PPPRA) to review the current price template for Premium Motor Spirit (PMS) with a view to reducing the price to N70.

The House expressed dismay over the circulating rumour of a possible hike in the price of petrol in the country. Although the rumour was denied by the Federal Ministry of Petroleum Resources, House member Abubaker Fulata said that the current template for the price of PMS could be reviewed downwards without affecting the profit margin of marketers and transporters.




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