Prices of Petrol and Diesel dropped in August

According to reports released by the National Bureau of Statistics, NBS, the average price paid by consumers for petrol and diesel decreased by 2.5 and 0.07 per cent month on month respectively compared to the N148.2 and N197.62 recorded for the previous month.

The average price of petrol for August 2017, which stood at N144.4 also decreased by 1.9 per cent year on year compared to the N147, recorded for August 2016.

Diesel’s average price for August 2017 stood at N196.23 and decreased by 0.15 per cent year on year from the N197 average recorded for August 2016.

The petrol price watch report showed that states with the highest average petrol prices for August 2017 include Plateau, Rivers and Zamfara states with an average value at N146.4, N145.8, and N145.4 respectively and states with the lowest average petrol prices are Lagos and Ondo at N 143.3, Oyo at N143.2 and Nasarawa at N143.0.

States with the highest average prices of diesel include Sokoto at N227.86, Imo at N225.87, and Niger at N224.23 while Abia, Ebonyi and Osun had the lowest average diesel prices at N175.83, N174.29 and N170.36 respectively for August 2017, the report showed.

The report showed that the average prices across zones for diesel for the month of August were N201.76 for the North-central, N202.48 for the North-east, N203.66 for the North-west, N190.80 for the South-east, N195.04 for the South-south, and N180.60 for the South-west

For petrol, the average prices across zones were N144.3 for the North-central, N144.6 for the North-east, N144.7 for the North-west, N144.4 for the South-east, N144.7 for the South-south and N143.8 for the South-west.

Source: ( Premium Times )