Petrol Dropped By 1.9% In August – NBS

Petrol Dropped By 1.9% In August – NBS

The average price of Premium Motor Spirit, PMS, more popularly known as petrol, decreased by 1.9 percent year-on-year in August, the Nigerian Bureau of Statistics, NBS, has said.

According to the bureau’s newly-released, average price also decreased by 2.5 percent month-on-month to N144.4 in August from N148.2 in July this year.

States with the highest average price of petrol are Plateau with N146.4; Rivers, N145.8 and Zamfara, N145.4 while states with the lowest average price of petrol are Nasarawa with N143; Oyo, N143.2; and Lagos and Ondo, N143.3.

Plateau state had the highest average price in the North Central Region for August 2017 with N146.4, an increase of 1.4 percent year-on-year a minimal increase of 0.4 percent month-on-month, while Nasarawa State had the least average price of N143 with a decrease of 7.4 percent year-on year and decrease of 4.3 percent month-on-month.

In North East region, Yobe State had the highest average price for August with N145.3, a decrease of 2.1 percent year-on-year and decrease of 14.6 percent month-on-month while Adamawa and Gombe states had the least average price.

While Adamawa paid N144 for petrol with a decrease of 0.7 percent year-on-year, YoY, and decrease of 10 percent month-on-month, MoM, Gombe paid N144.

In the North West region for the month under review, Zamfara had the highest price of N145.4, an increase of 0.5 percent YoY and increase of 0.2 MoM, while Jigawa had the least average price of N143.9, a decrease of 0.6 percent and 1.2 percent MoM.

In the South East region, Enugu paid the highest average price of N145 in August, a decrease of 3.3 percent YoY and decrease of 2.7 percent MoM, while Imo  State had a price of N143.4 with a decrease of 1.7 percent YoY and decrease of 2.7 percent MoM.

In the South South region, Cross Rivers paid the least lowest price of N143.4, a decrease of 0.9 percent YoY and decrease of 1.1 percent MoM.

While Rivers State had the highest price of N143.4, a decrease of 0.9 percent YoY and decrease of 1.1 percent MoM.

Osun State had the highest average price in the South West with N145, an increase of 0.3 YoY. Oyo State had the least price of N143.2, a decrease of 0.9 percent YoY and decrease of 0.2 MoM.

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