Consumers paid more to get diesel in May, the Premium Motor Spirit (Petrol) Price Watch and Automotive Gas Oil (Diesel) Price Watch reports released by the National Bureau of Statistics on Tuesday has shown.
However, prices of petrol witnessed a slight drop in May compared to April.
“Average price paid by consumers for automotive gas oil (diesel) increased by 0.65% month-on-month and -4.91% year-on-year to N205.67 in May 2018 from N204.35 in April 2018,” the Diesel Price Watch report read.
“Average price paid by consumers for premium motor spirit (petrol) decreased by -0.3% year-on-year and -0.8% month-on-month to N150.2 in May 2018 from N151.4 in April 2018, the Petrol Price Watch report read.
Other trends in the period under review showed that states in the North bore the brunt of increased diesel prices.
Taraba paid the highest for diesel at N253.33, while Gombe paid N227.50 and the average price for the product in Kebbi was N224.50.
For petrol, however, Borno, Benue and Akwa Ibom paid the highest for petrol, which sold at average prices of N166.08, N160.31 and N159.44 respectively.
Katsina, Kano and Bauchi paid least for petrol which sold for N144.82, N144.87 and N144.93 respectively.
In Nigeria, the expected pump price of petroleum product at retail points is derived by adding the landing cost of the imported product to “reasonable distribution margins.”
The distribution margins include retailers’ margin, transporters margin, dealers margin, bridging fund (plus marine transport average) and administrative charges.
The official pump price for petrol is N145 per litre.