Prices of fuel, cooking gas, diesel decreased in July - NBS report

Prices of fuel, cooking gas, diesel decreased in July - NBS report

- The National Bureau of Statistics has released its price watch report for the month of July

- The report indicates that Nigerians paid less for fuel, cooking gas, diesel in July

- Prices of all the above stated products decreased compared to what Nigerians paid for them in June

The National Bureau of Statistics (NBS) says average price paid by consumers for premium motor spirit (petrol) decreased by -0.09 year-on-year and -0.9% month-on-month to N146.80 in July 2018 from N148.10 in June 2018.

The bureau revealed this in a Premium Motor Spirit (Petrol), Liquefied Petroleum Gas (Cooking Gas) and Automotive Gas Oil (Diesel) Price Watch released on Tuesday, August 14.

The NBS said states with the highest average price of premium motor spirit (petrol) were: Borno (N155.00), Taraba (N151.82) & Bayelsa (N151.67).

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States with the lowest average price of premium motor spirit (petrol), on the other hand, were: Oyo (N144.72), KatsinaN144.06) & Gombe (N142.79).

The report also shows that average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -1.20% month-on-month and -9.69% year-on-year to N2,010.45 in July 2018 from N2,034.93 in June 2018.

States with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were: Bauchi (N2,500.00), Borno (N2,401.43) and Gombe (N2,314.29) while states with the lowest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were: Edo (N1,731.25), Abuja (N1,730.00) and Ebonyi (N1,700.00).

Similarly, the average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased in the period under review by -0.81% month-on-month and -2.97% year-on-year to N4,244.35 in July 2018 from N4,278.95 in June 2018.

States with the highest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were: Benue (N4,775.00), Kaduna (N4,716.67) and Akwa Ibom (N4,660.00).

States with the lowest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Oyo (N3,855.63), Ogun (N3,849.09) and Lagos(N3,615.38).

For Automotive Gas Oil (Diesel), the NBS report indicates that average price paid by consumers for automotive gas oil (diesel) decreased by -0.32% month-on-month and increased by 3.39% year-on-year to N204.32 in July 2018 from to N204.97 in June 2018.

States with the highest average price of diesel were: Borno(N247.50), Taraba(N231.25) and Gombe (N228.33). On the other hand, states with the lowest average price of diesel were Abuja (N184.00), Adamawa (N180.35) and Nasarawa (N175.83).

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Meanwhile, NAIJ.com had previously reported that the president of African Development Bank (AFDB), Dr Akinwunmi Adesina, revealed that Nigeria is currently producing 7 million tons of maize annually out of the 8 million tons the country requires.

He made the revelation at the Feed Nigeria Summit held in Abuja between Monday, July 30 and Tuesday, July 31 where he was represented by the director, agriculture and agro-industry; AfDB, Dr Martins Fregene.

Minister of industry says economy is improving; Nigerians disagree - On NAIJ.com TV

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Source: Naija.ng

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