Petrol price rose by 10.8% in October — NBS

The average price paid by consumers for Premium Motor Spirit (PMS) popularly known as petrol skyrocketed by 10.79 per cent from N145.48 per cent recorded in October, 2019, to N161.17 in October, 2020. The Petrol Watch report released by the National Bureau of Statistics (NBS) showed that petrol price also increased by 0.07% from N161.06 […]

The average price paid by consumers for Premium Motor Spirit (PMS) popularly known as petrol skyrocketed by 10.79 per cent from N145.48 per cent recorded in October, 2019, to N161.17 in October, 2020.

The Petrol Watch report released by the National Bureau of Statistics (NBS) showed that petrol price also increased by 0.07% from N161.06 in September to N161.17 in October.

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The report showed that states with the lowest average price of petrol were Niger (N158.38), Sokoto (N158.57) and Delta (N159.38), while states with the highest average price of petrol were Kebbi (N166.50), Yobe (N163.58) and Anambra (N163).

Similarly, Diesel Watch for October showed that the average price paid by consumers for Automotive Gas Oil (AGO) popularly called diesel increased by 0.05% and decreased by -2.83% to N219.80 in October from N219.68 in September.

Similarly, the average price per litre paid by consumers for kerosene increased by 1.42% by 8.69% to N352.93 in October, from N347.98 in September.

The report showed that states with the highest average price per litre of kerosene were Taraba (N437.50), Ebonyi (N423.81) and Benue (N410.00), while states with the lowest average price per litre of kerosene were Bayelsa (N230.95), Rivers (N285.19) and Oyo (N310.00).

Meanwhile, cooking gas showed that the average price for the refilling of a five kilogramme cylinder for Liquefied Petroleum Gas (cooking gas) decreased by – 1.06% per cent month-on-month and by -0.70% year-on-year to N1,953.71 in October, from N1974.67 in September.