NBS: Average Petrol Price Hits N143.63

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By James Emejo

The average price of premium motor spirit (petrol) increased month-on-month by 11.44 per cent to N143.63 in July compared to N128.88 in June.

According to the Premium Motor Spirit (Petrol) Price Watch July 2020 report, which was released Tuesday by the statistical agency, the average petrol price decreased by -0.97 per cent year on year.

Adamawa and Imo States recorded the highest average price of N145 followed by Abia with N144.93, while Enugu recorded N144.80.

However, Ogun, Kwara and Gombe States recorded the lowest average of N140.30, N140.50 and N142.57 respectively.

Similarly, the average price for the refilling of a 12.5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) decreased by -0.30 per cent month-on-month and by -2.12 per cent year-on-year to N4,126.82 in July from N4,139.18 in the preceding month.

Also, the average price for the refilling of a 5kg cylinder of cooking gas decreased by -0.13 per cent month-on-month and -2.64 per cent year-on-year to N1,971.34 in the review period from N1,973.95.

According to the Liquefied Petroleum Gas (Cooking Gas) Price Watch – July 2020, states with the highest average price for the refilling of a 12.5kg cooking gas cylinder were Akwa Ibom with N4,634.39, Cross River N4,592.11 and Bayelsa N4,568.18.

While Kano, Oyo and Kaduna recorded the lowest average of N3,680, Oyo N3,687.50 and Kaduna N3,754.29 respectively.

On the other hand, the average price per litre paid by consumers of household kerosene increased by 0.44 per cent month-on-month to N335.54 in July 2020 from N334.08 in June, according to the National Household Kerosene Price Watch – July 2020.

The NBS further stated that average price per gallon paid by consumers of kerosene increased by 0.45 per cent month-on-month.