Thursday, July 29, 2021

    Petrol cost more in Benue, Abia and Cross River in June-NBS

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    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Folasade Akpan
    Abuja, July 19, 20210 The National Bureau of Statistics (NBS) says Premium Motor Spirit (PMS), popularly referred to as petrol, was more costly in Benue, Abia and Cross River in June.
    The NBS made this known in its “Premium Motor Spirit (Petrol) Price Watch for June 2021’’ released on its website on Saturday in Abuja.
    It said that Benue residents paid N183.29, while Abia residents paid N171.88 for the product and Cross River residents N170.50.
    It, however, said that Taraba at N157.33, Borno N160.10 and Katsina at N160.86 paid the lowest average prices for the product.
    According to the NBS, the average price paid by consumers for petrol increased by 28.49 per cent year-on-year and decreased month-on-month by 1.46 per cent to N165.61 in June from N168.06 in May.
    Similarly, the average price paid by consumers for Automotive Gas Oil (Diesel) increased by 1.51 per cent month-on-month and by 8.05 per cent year-on-year to N242.43 in June from N238.82 in May.
    The bureau said that states with the highest average price of diesel were Edo at N264.18, Kwara at N261 and Niger at N260.
    It also said that states with the lowest average price of diesel were Gombe, whose residents bought at N209, Plateau at N218.90 and Zamfara at N221.67.
    It stated that field work for the report was done solely by more than 700 NBS staff in all states of the federation supported by supervisors who were monitored by internal and external observers.
    Fuel Prices were collected across all the 774 Local Government areas across all states and the FCT from over 10,000 respondents and locations.
    The price reflected actual prices households bought fuel together with the prices reportedly sold by the fuel suppliers.
    The average of all these prices was then reported for each state and the average for the country was the average for the state.

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