Premium motor spirit (petrol) was most expensive in Taraba in August, a report released by the National Bureau of Statistics (NBS) has shown.
According to the premium motor spirit (petrol) price watch report for August, the average price paid by consumers in August increased to N148.78 per litre from N143.63 in July.
“Average price paid by consumers for premium motor spirit (petrol) increased by 2.26 percent year-on-year and month-on-month by 3.59 percent to N148.78 in August 2020 from N143.63 in July 2020,” the report read.
The states where petrol was the most expensive were Taraba at N153.67; Kebbi paid N153.65 and the average price of the product in Abia was N152.00.
The recent increase in the price of petrol is due to the federal government’s decision to cease the payment of fuel subsidy.
At present, petrol sells at between N158 and N162 per litre in Lagos, Nigeria’s commercial capital.
Similarly, the average price of kerosene witnessed a slight increase in August compared to July.
“Average price per litre paid by consumers for National Household Kerosene increased by 3.28 percent month-on-month and by 7.41 percent year-on-year to N346.53 in August 2020 from N335.54 in July 2020,” the NBS said.
Ebonyi, Enugu and Borno paid the highest for kerosene at an average price of N397.62, N395.87, and N393.61 per litre respectively.
The states with the lowest average price per litre of kerosene were Bayelsa (N257.78), Zamfara (N285.56) and Kebbi (N292.26).
According to the Diesel Price Watch report, the average price of the commodity decreased by -1.14 percent month-on-month to exchange at N221.88 from the earlier price of N224.43 in July.
Rivers, Enugu and Plateau had the lowest average prices for diesel at N197.07, N200.50 and N205.83 respectively.
Diesel was most expensive in Borno (N257.92), Adamawa (N246.00) and Taraba (N245.67).