Average Prices of Petrol and Cooking Gas drop in September – NBS

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Petrol price, Petrol price hikes

The average price per litre paid by consumers for Cooking Gas decreased to N1,976.11 in September 2019 from N2,000.34 in August 2019., according to the National Bureau of Statistics (NBS).

The bureau, in its “National Petrol, Cooking Gas, Diesel and Kerosene Price Watch (September 2019 Edition)” made available to Brand Spur Nigeria on Wednesday in Abuja, said the increase is by -1.21% month-on-month and -6.23% year-on-year.

The report by the bureau indicates that “Average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -1.21% month-on-month and -6.23% year-on-year to N1,976.11 in September 2019 from N2,000.34 in August 2019.”

It also said that states with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Bauchi (N2,481.88), Borno (N2,382.29) and Adamawa (N2,375.66).

Also, states with the lowest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Abuja (N1,680.00), Ebonyi (N1,700.00) and Osun (N1,711.46).

Similarly, the average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -2.34% month-on-month and by -5.76% year-on-year to N4,124.20     in September 2019 from N4,223.08 in August 2019.

“States with the highest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Akwa Ibom (N4,685.05), Benue (N4,600.00) and Cross River (N4,565.32).”

“States with the lowest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Kano (N3,600.00), Oyo (N3,661.54) and Lagos (N3,705.00).”

The agency did not indicate the reason for the development but other industry sources show a government’s policy shift in favour of gas for domestic cooking.

The agency, in its latest report on the prices of petroleum products, stated that the average price paid by consumers for premium motor spirit (petrol) decreased by -1.2% year-on-year and flat month-on-month to N145.5 in September 2019 from N145.5 in August 2019.

A breakdown of the prices in the various states shows that states with the highest average price of premium motor spirit (petrol) were Cross River (N147.50), Benue (N147.17) and Bayelsa (N146.75).

Also, states with the lowest average price of premium motor spirit (petrol) were Abuja (N143.17), Bauchi (N144.00) and Kaduna (N144.13).

Conversely, in another report, on automotive gas oil (diesel), the average price paid by consumers per litre decreased by -0.50% month-on-month and increased by 7.69% year-on-year to N227.92 in September 2019 from to N229.08 in August 2019.

According to the agency, “States with the highest average price of diesel were Borno (N271.00), Niger (N253.75) and Taraba (N252.60).”

“States with the lowest average price of diesel were Ekiti (N200.33), Rivers (N208.00) and Bayelsa (N208.33).”

However, the report stated that the average price per litre paid by consumers for National Household Kerosene decreased by -1.30% month-on-month and increased by 7.12% year-on-year to N318.46 in September 2019 from N322.64 in August 2019.

“States with the highest average price per litre of kerosene were Abia (N378.50), Enugu (N372.73), and Cross River (N359.85).”

“States with the lowest average price per litre of kerosene were Abuja (N245.83), Nassarawa (N265.92) and Borno (N276.96).”

Similarly, the average price per gallon paid by consumers for National Household Kerosene increased by 0.56% month-on-month and by 8.01% year-on-year to N1,217.28 in September 2019 from N1,210.44 in August 2019.

“States with the highest average price per gallon of kerosene were Gombe (N1,441.67), Borno (N1,400.00) and Adamawa (N1,375.44).”

“States with the lowest average price per gallon of kerosene were Bayelsa (N1,065.45), Delta (N1,100.38) and Osun (N1,103.53).”

The NBS said that in arriving at the statistics, fieldwork was carried out by its staff in all states of the federation, supported by supervisors who were monitored by internal and external observers.