Petrol pump price reduce in Nigeria

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National Bureau of Statistics, NBS, has disclosed that the average price paid by customers for premium motor spirit, PMS, otherwise known as Petrol, in September 2017 declined by 1.2 per cent year-on-year, YoY, to N144.5.

In a report released, yesterday, NBS, however, noted that the PMS price increased marginally on a month-on-month, MoM, basis by 0.1 per cent from N144.4, which was the average price in August 2017.

According to the report, Yobe, Bayelsa and Taraba States recorded the highest average price of petrol with N149.7, N147.1 and N146.1, respectively, during the month in view. On the other hand, Abuja, Osun and Ondo recorded the lowest average petrol price at N142, N142.8 and N142.9, respectively.

The bureau also stated that the average price per litre paid by customers for national household kerosene, in September, decreased by 8.33 per cent, YoY, to N264.48, but increased by 17.28 per cent, MoM, from N225.52 recorded in August. During the month, the states with the highest average price per litre of kerosene were Plateau, N316.67; Yobe, N294.44; and Kaduna, N294.12; while the states with the lowest average prices were Abia, N240.56; Edo, N240; and Ekiti, N233.33.