Average prices of petrol, diesel decreased in February 2018 – NBS

Petrol pump used to illustrate story
Petrol pump used to illustrate story

The average price per litre paid by consumers for Premium Motor Spirit (Petrol) decreased by 9.6 per cent to N172.5 in February 2018 from the average price of N190.9 recorded in January 2018, the National Bureau of Statistics has said.

The average price of petrol however increased by 15.1 per cent when compared to the average price of N149.8 recorded for February 2017.

The bureau disclosed this in a report titled Premium Motor Spirit (Petrol) Price Watch published on its website on Tuesday.

Also, in a report titled Automotive Gas Oil (Diesel) Price Watch, which it published on its website on Tuesday, the bureau said the average price per litre paid by consumers for Automotive Gas Oil (Diesel) decreased by 15.84 per cent to N209.9 in February 2018 from the average price of N249.38 recorded in February 2017.

The average price for diesel also decreased by 1.84 per cent when compared to the average price of N213.82 recorded for January 2017.

Plateau state had the highest average price per litre of petrol in February 2018 at N206.82. Osun state had the second highest average price per litre for the month at N201.29.

The state with the third highest average price per litre of Petrol was Edo state at N200.8.

Katsina state and the Federal Capital Territory, Abuja had the lowest average prices per litre of Petrol at N145 in February 2018. Kogi state recorded the second lowest average price at N147.1.

At the zonal level, the North East recorded the lowest average price per litre for Petrol at N157.9, while the South South recorded the highest average price per litre at N180.32 for the month.

Sokoto state however had the highest average price per litre of Diesel in February 2018 at N264. Yobe state had the second highest average price per litre for the month at N238.

The state with the third highest average price per litre of Diesel was Taraba state at N232.

Ondo and Abia states had the lowest average prices per litre of Diesel at N190 for the month. Ogun state recorded the second lowest average price at N190.63.

At the zonal level, the South West recorded the lowest average price per litre for Diesel at N196.6, while the North East recorded the highest average price per litre at N224.3 for February 2018.

The zone with the second lowest average price at N204 was the South East. The South East was closely followed by the North Central which had N205 as its average price per litre for diesel.

The North East was the zone that recorded the second highest average price per litre of Diesel in February 2018 at N223. The South-South, with an average price per litre of N207, had the third highest average price of diesel on a zonal basis.

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