…as price of cooking gas declines by 2.8%

By Prince Okafor

THE average price paid by consumers for premium motor spirit, PMS, popularly known as petrol, increased to N147.50 in November 2018 from N147.20 in October 2018, the Nigeria Bureau of Statistic, NBS report has shown.

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This showed an increase of 1.3 percent year-on-year and 0.2 percent month-on-month.

According to the report of the NBS, Premium Motor Spirit (Petrol) Price Watch, “States with the highest average price of PMS, were Kebbi (N158.24), Kaduna (N156.75) and Taraba (N155.46).

Also amongst the states in the far northern part of the country were states with the lowest average price of PMS including Jigawa (N144.29), Sokoto (N144.20) but Imo state at N142.50, recorded the lowest average price in the country.

In another report, titled, ‘LPG Price Watch’, the NBS stated that the average price for the refilling of a 5kg cylinder of Liquefied Petroleum Gas, LPG, also known as cooking gas, decreased by -2.82 percent month-on-month and -12.33 percent year-on-year to N2,084.74 in November 2018 from N2,145.30 in October 2018.

It report stated: “States with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (cooking gas) were Akwa Ibom (N2,350.68), Abia (N2,300.50) and Bauchi (N2,300.). States with the lowest average price for the refilling of a 5kg cylinder for cooking gas were Lagos (N1,954.55), Kwara (N1,945.45) and Ebonyi (N1,908.33).

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“Similarly, average price for the refilling of a 12.5kg cylinder for cooking gas decreased by -4.59 percent month-on-months and -6.61 percent year-on-years to N4, 242.26 in November 2018 from N4, 446.19 in October 2018.

“States with the highest average price for the refilling of a 12.5kg cylinder for cooking gas were Akwa Ibom (N5,000.00), Abia (N4,618.75) and Anambra (N4,578.95). States with the lowest average price for the refilling of a 12.5kg cylinder for cooking gas were Osun, (N4033.33), Bauchi & Edo (N4, 025.00) and Oyo (N4, 000.00).”

It also stated that the average price per litre paid by consumers for household Kerosene decreased by -5.46 percent month-on-months and increased by 11.68 percent year-on-year to N298.32 in November 2018 from N315.56 in October 2018.

The report shows that states with the highest average price per litre of Kerosene were Enugu (N358.33), Jigawa (N353.13) and Ebonyi (N348.99). States with the lowest average price per litre of kerosene were Kaduna (N268.89), Kogi (N265.24) and Kwara (N263.33).

Similarly, it stated that the average price per gallon paid by consumers for household Kerosene decreased by -2.36% month-on-months and increased by 7.17 percent year-on-year to N1145.21 in November 2018 from N1172.84 in October 2018.

It disclosed that states with the highest average price per gallon of kerosene were Jigawa (N1352.94), Ekiti (N1326.67) & Borno (N1267.25) while states with the lowest average price per gallon of kerosene were Akwa Ibom (N1022.08), Lagos (N1009.33) and Bayelsa (N1000.00).

The report further stated that while the average price paid by consumers for automotive gas oil (diesel) increased by 0.10 percent month-on-month and 10.18 percent year-on-year to N219.54 in November 2018 from to N219.33 in October 2018.

The report stated that, states with the highest average price of diesel were Imo (N242.11), Osun (N240.62) and Borno (N238.89). States with the lowest average price of diesel were Kaduna (N195.50), Bayelsa (N196.82) and Kwara (N200.00).