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Nigeria’s average petrol price per litre rise 28.4% year on year to N191 in January

Average price paid by Nigerian consumers for premium motor spirit (petrol) increased by 28.4 percent year-on-year and 11.1 percent month-on-month to N 190.9 in January 2018 from N171.8 in December 2017, according to data supplied by the National Bureau of Statistics (NBS).

In a report released Tuesday the NBS indicated that Osun State topped the list of states with the highest average price of petrol with N228.89 followed by Abia (N227.50) and Benue (N223.33).

Conversely, states with the lowest average price of the product were Zamfara (N159.12), Gombe (N157.73) and Kogi (N152.83).

The average selling price in the southwestern part of the country, which includes Lagos was ₦195.39; Southeast including Abia State was at ₦203.17; Northwest ₦193.42; and Northeast ₦172.59.

NBS also reported average price for diesel in the review period, which stood at ₦213.82 from ₦205.81 in December 2017, showing an increment of 3.89 percent month-on-month. The average price however decreased by 5.89 percent year-on-year.

According to NBS, the state with the highest average price of diesel was Sokoto State at ₦256, about 7 percent increase year-on-year and 15.3 percent increase month-on-month. On the other hand, Bayelsa State had the lowest average price of diesel at ₦181.67, representing a decrease of 13.5 percent year-on-year and – 1.3 percent month-on-month.

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