Consumers Paid More for Petrol & Diesel in November, says NBS

Petrol price, Petrol price hikes

Prices of petroleum products including Premium Motor Spirit (PMS) also known as petrol and Automotive Gas Oil (AGO) or diesel, increased in November, the National Bureau of Statistics (NBS) has disclosed.

Specifically, consumers of petrol in Kebbi, Kaduna and Taraba states paid an average of N158.24, N156.75 & N155.46 per litre respectively during the Yuletide, others like Jigawa (N144.29), Sokoto (N144.20) & Imo (N142.50) recorded the lowest prices

Also,  the average price paid by consumers for premium motor spirit (petrol) increased by 1.3% year-on-year and 0.2% month-on-month to N147.50 in November 2018 from N147.20 in October 2018 during the review period.

Similarly, the average price paid by consumers for automotive gas oil (diesel) increased by 0.10% month-on-month and 10.18% year-on-year to N219.54 in November 2018 from to N219.33 in October 2018.

States with the highest average price of diesel were Imo (N242.11), Osun (N240.62) and Borno (N238.89). States with the lowest average price of diesel were Kaduna (N195.50), Bayelsa (N196.82) and Kwara (N200.00).

NBS said for the data collection, field work was done solely by over 700 staff in all states of the federation, supported by supervisors who were monitored by internal and external observers.

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“Fuel Prices are collected across all the 774 local governments across all states and the Federal Capital Territory (FCT) from over 10,000 respondents and locations and reflect actual prices households said they actually bought those fuels together with the prices reportedly sold by the fuel suppliers. The average of all these prices is then reported for each state, and the average for the country is the average for the state.”