Nigerian consumers paid N163.4 for fuel in March -NBS

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Nigerian Premium Motor Spirit (fuel) consumers, on the average, paid N163.4 per litre for the product in March, a less than the N172.5 in February 2018. This is However, against the official pump price of N145 per litre.

According to the National Bureau of Statistic on Wednesday, there was -5.3 percent decline in price month-on-month to N163.4 in March 2018 from N172.5 in February 2018, though a 9.4 percent increase, year-on-year.

States where petrol were bought most expensive Taraba N184.38, Jigawa N180.93 & Ekiti N173.89 while States with the lowest average price of premium motor spirit (petrol) were KadunaN147.29, Bauchi N145.57 and Abuja N145.00), the bureau said in its March Petroleum products price watch.

Similarly, average price per litre paid by consumers for National Household Kerosene decreased by -6.79% month-on-month and -13.66% year-on-year to N268.99 in March 2018 from N288.57 in February 2018.

Nasarawa, Yobe and cross river state had the highest average price per litre of kerosene with N306.07, N300.78 and N300.68 respectively and states with the lowest average price per litre of kerosene were AbiaN229.35, Delta N227.77 and Borno N225.13.

The report also show that the average price paid by consumers for automotive gas oil (diesel) decreased by 1.65% month-on-month and 12.00% year-on-year to N206.41 in March 2018 from N209.89 in February 2018.

States with the highest average price of diesel were Taraba N254.29, Sokoto N249.29 and Kebbi N230.83, while States with the lowest average price of diesel were Abia N185.83, Bayelsa N187.50 and Delta N189.58.

The average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -3.03% month-on-month and decreased by -16.16% year-on-year to N2090.97 64 March 2018 from N2,155.97 in February 2018.

States with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Borno (N2487.50), Yobe (N2500.00), and Bauchi (N2400.00). States with the lowest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Abuja (N1,760.00), Ebonyi (N1,870.00) and Ekiti (N1,895.00).

Similarly, average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -1.84% month-on-month and decreased by -13.60% year-on-year to N4253.73 in March 2018 from N4,333.27 in February 2018.

States with the highest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Akwa Ibom (N4,650.00), Benue (N4,966.67) and Cross River (N4,730.00). States with the lowest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Oyo (N3834.38), Lagos (N3768.00) and Bauchi (N3,400.00).

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Joseph Afam (Local Contents and Partnership Editor) (070 3949 0464) Joseph Afam is a energy and finance journalist, who has years of experience in journalism, he started his journalism career in Nigeria’s top financial newspaper in Lagos. He’s a graduate of Economics and Finance from University of Ebonyi State, Nigeria He has won series of awards and regconitions Contact him for any editorial deals and advertorial issues on # Joseph.Afam@naija247news.com, editor@naija247news.com, Cell: 070 3949 0464

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