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Prices of petrol, others fall in January

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petrol price

By Elizabeth Adegbesan

ENERGY Consumers paid less for Premium Motor Spirit, PMS, (petrol), National Household Kerosene (NHK) and Liquefied Petroleum Gas (Cooking Gas), in January following decline in prices of the commodities during the month.    

On the contrary, the price of Automotive Gas Oil (diesel) rose during the month.

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The National Bureau of Statistics, NBS, disclosed this in its Petrol Price Watch Report for January released yesterday.

According to the report, the price paid by consumers for petrol fell month-on-month (MoM) by 0.97 percent to N164 in January 2021 from N165 in December 2020.

Similarly, the NBS Kerosene watch report disclosed   that the price per litre paid by consumers for NHK fell   by-0.64 percent MoM   to N350 in January 2021 from N352 in December 2020

Furthermore,the NBS in its Cooking Gas Watch Report, said that the price for the refilling of a 5kg cylinder for Cooking Gas fell   by   0.04 percent MoM   to N1,949   in January 2021 from N1,949 in December 2020.

However, the price of diesel rose by 0.22 percent MoM to N224 in January 2021 from to N224 in December 2020.

The NBS   stated: “Average price paid by consumers for petrol increased by 13 percent year-on-year (YoY) and decreased MoM by 0.97 percent to N164 in January 2021 from N165.70 in December 2020.

“States with the highest average price of petrol were Abia (N173), Adamawa (N166) and Gombe (N165).

“States with the lowest average price of premium motor spirit (petrol) were Lagos (N160), Borno (N162) and Ekiti (N162).

On Kerosene it said: “Average price per litre paid by consumers for kerosene decreased by 0.64 percent MoM and increased by 8.3 percent YoY to N350 in January 2021 from N352 in December 2020.

“States with the highest average price per litre of kerosene were Benue (N441), Taraba (N430) and Lagos (N402).

“States with the lowest average price per litre of kerosene were Bayelsa (N244), Rivers (N274) and Delta (N280).”

  On cooking gas the NBS said: “Average price for the refilling of a 5kg cylinder for Cooking Gas decreased by 0.04percent MoM and by 3.5 percent YoY to N1,949.02 in January 2021 from N1,949.75 in December 2020.”

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