…as inflation drops to 16.10%
17 July 2017, Sweetcrude, Lagos — There were slight drop in the prices of Premium Motor Spirit, PMS also known as petrol, Automotive Gas Oil, also known as diesel, Liquefied Petroleum Gas LPG in the month of June, 2017 according to data published by the National Bureau of Statistic, NBS, just as inflation rate drop from 16.25 percent in May to 16.10 percent in June.
NBS statistic released today, (July 17, 2017) states that the average price paid by consumers for PMS increased by 1.2 percent year-on-year and decreased by -0.3 percent month-on-month to N150.3 in June 2017 from N150.7 in May 2017.
States with the highest average price of PMS according to the data were Yobe (N168), Gombe (N167.50) and Adamawa (162.50) while states with the lowest average price of premium motor spirit (petrol) were Abuja, Edo, Ekiti, Ogun, and Osun ( N145), Ondo & Kano (N145.3) and Kwara & Oyo (N145.5).
The data stated that the average price paid by consumers for AGO decreased by 2.72 percent month-on-month and increased by 14.73 percent year-on-year to N210.42 in June 2017 from N216.30 in May 2017.
It added that states with the highest average price of diesel were Kwara (N235.56 ) Adamawa (N227.50) and Niger (N230.00) while states with the lowest average price of diesel were Osun (N192.50), Delta (N191.25) and Anambra (N184.17).
On LPG, the data states that the average price for the refilling of a 5 kg cylinder decreased by 9.43 percent month-on-month and increased by 12.9 percent year-on-year to N2,215.96 in June 2017 from N2,446.57 in May 2017.
“States with the highest average price for the refilling of a 5 kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Kebbi and Yobe (N2,400.00), Zamfara (N2,399.18) & Adamawa (2,390.00) while states with the lowest average price for the refilling of a 5 kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Kaduna, and Niger (N2,000), Kogi (N2,005.00) and Oyo oN2,033.33),” NBS revealed
However, NBS revealed that the average price per litre paid by consumers for National Household Kerosene increased by 8.01 percent month-on- month and by 30.49 percent year-on-year to N303.29 in May 2017 from N280.80 in April 2017.
“States with the highest average price per litre of kerosene were Anambra (N334.52), Kwara (N323.81) & Bauchi (321.67) while states with the lowest average price per litre of kerosene were Osun (N273.96), Oyo (N271.15) and Sokoto (N261.90),” NBS revealed.