Business

2020 Reports: Prices of petrol, rises in July

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THE prices paid by consumers for Premium Motor Spirit (petrol), Automotive Gas Oil (diesel) and National Household Kerosene (NHK) rose in July 2020 even as that of cooking gas (Liquefied Petroleum Gas) fell during the period.

In its Price Watch Reports for petrol, diesel, kerosene and cooking gas released yesterday, the National Bureau of Statistics (NBS) stated that price paid by consumers for petrol increased month-on-month (MoM) by 11.44 per cent to N143.63 in July 2020 from N128.88 in June 2020.

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The Bureau also said that price paid by consumers for diesel rose by 0.03 per cent MoM to N224.43 in July 2020 from N224.37 in June 2020. Similarly, the price per litre paid by consumers for kerosene increased by 0.44 per cent MoM to N335.54 in July 2020 from N334.08 in June 2020.

However, the price for the refilling of a 5kg cylinder for cooking gas fell by 0.13 per cent MoM to N1,971.34 in July 2020 from N1973.95 in June 2020.

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The reports stated: “Average price paid by consumers for premium motor spirit (petrol) decreased by 0.97 per cent year-on-year (YoY) and increased MoM by 11.44 per cent to N143.63 in July 2020 from N128.88 in June 2020.

“States with the highest average price of premium motor spirit (petrol) were Adamawa/Imo (N145.00), Abia (N144.93) and Enugu (N144.80). “Average price paid by consumers for automotive gas oil (diesel) increased by 0.03 per cent MoM and decreased by -0.23 per cent YoY to N224.43 in July 2020 from to N224.37 in June 2020. “States with the highest average price of diesel were Borno (N263.40), Bauchi (N240.00) and Cross River (N239.12).

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“Average price per litre paid by consumers for National Household Kerosene increased by 0.44 per cent MoM and by 6.17 per cent YoY to N335.54 in July 2020 from N334.08 in June 2020. “States with the highest average price per litre of kerosene were Taraba (N389.58), Sokoto (N386.60), and Edo (N384.52).

States with the lowest average price per litre of kerosene were Bayelsa (N250.95), Rivers (N270.82) and Zamfara (N277.27).

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“Average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by 0.13 per cent MoM and by 2.64 per cent YoY to N1,971.34 in July 2020 from N1973.95 in June 2020. “States with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Bauchi (N2,485.80), Borno (N2,390.14) and Adamawa (N2,384.21).”

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