Petrol, kerosene record double digit price increase — NBS

Petrol, kerosene record double digit price increase — NBS

The average price of Premium Motor Spirit (PMS), commonly called petrol, increased by 17.98 percent, month-on-month (MoM), even as the average price per litre paid by consumers for Kerosene jumped by 22.5 percent year-on-year in December.

The National Bureau of Statistics disclosed this yesterday in its Premium Motor Spirit (Petrol) Price Watch and National Household Kerosene price watch for December.

The NBS said that, “The average price paid by consumers for premium motor spirit (petrol) increased by 17.10 percent year-on-year and 17.98 percent month-on-month to N171.8 in December 2017 from N145.6 in November 2017.”

The bureau disclosed that the states with the highest average price of PMS were Abia, Kebbi and Anambra having N220.4, N210.08 and N210, respectively; while, Ekiti, Abuja FCT and Lagos N146, N146.53 and N149.83were the states with the lowest prices.

“The average price per litre paid by consumers for National Household Kerosene increased by 6.32 percent (MoM) and 22.50 percent (YoY) to N284.03 in December 2017 from N267.14 in November 2017.

“However, average price per gallon paid by consumers for National Household Kerosene decreased by 0.32 percent (MoM) and increased by 1.59 percent (YoY) to N1, 048.97 in December 2017 from N1, 052.33 in November 2017.”

While Adamawa, Enugu and Gombe States were the states with the highest average price per gallon of kerosene at N1,196.00, N1,165.00 and N1,157.14, respectively, Abia, Abuja and Adamawa were states with the highest average price per litre of kerosene at N261.90, N290.67 and N248.10, respectively.

“States with the lowest average price per litre of kerosene were Zamfara (N250), Yobe (N270) and Taraba (N266.67). States with the lowest average price per gallon of kerosene were Rivers (N907.89), Kwara (N926.25) and Abuja (N952.50),” the report added.