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Home Business & Economy PETROL PRICE WATCH: NATIONAL AVERAGE PRICE OF PETROL DECLINED IN MARCH TO N163.4

PETROL PRICE WATCH: NATIONAL AVERAGE PRICE OF PETROL DECLINED IN MARCH TO N163.4

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PETROL PRICE WATCH: NATIONAL AVERAGE PRICE OF PETROL DECLINED IN MARCH TO N163.4

The sale of petrol, known as Premium Motor Spirit (PMS) dropped by 5.3% percent in March 2018 amidst its light scarcity from N172.5 in February 2018, PMS Price watch of National Bureau of Statistics (NBS) confirmed today.

NBS in its report listed Taraba, Jigawa & Ekiti as paying N184.38, N180.93, and N173.89 respectively to procure the product. They paid highest, while Kaduna, Bauchi & Abuja experienced the lowest average price of premium motor spirit (petrol) paying N147.29, N145.57 and N145.00 respectively.

According to the NBS, the average price paid by consumers for premium motor spirit (petrol) increased by 9.4% year-on-year and -5.3% month-on-month to N163.4 in March 2018 from N172.5 in February 2018.

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