19th Sep, 2019 @ 11:53 AM


Nigeria Oil average price on Increase or Decrease: NBS reveals


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The Nigerian Bureau of Statistics(NBS) has revealed that the average price of petroleum products across the 36 states of the federation have increased since August, 2019.

Recently, NBS has stated that the average price paid for kerosene per litre has increased by 10.80
% yearly to ₦319.94 in August, while the current price is 1.24% rise monthly from ₦316.03 in July 2019.

Report shows that the States with the highest average price per litre of Kerosene were Abia- ₦375.55, Enugu- ₦365.47 and Ebonyi- ₦375.55. While states with the lowest average per litre of Kerosene were Abuja- ₦245.50, Kkwara- ₦261.11 and Benue- ₦261.90.

Also, report gathered from the Nigerian National Petroleum Control(NNPC), also shows a decrease of kerosene importation from 139.6 million in the first quarter of the year, Q1’19, to 85.5 million liters in the Q2’19, showing a huge gap in the supply of the product.

On the other hand, the average price for refilling gas has reduced, a situation whereby the average price for Cooking Gas refilling is 5kg has decreased by -1.21% monthly to ₦2,000 in August and -2.62% yearly to ₦2,024.80 in July.   

States with the highest average price for the refilling of a 5kg cylinder for Cooking Gas were Adamawa, Bauchi and Borno with prices ₦2,488.75, ₦2,468.89 and ₦2,391.07 respectively.

While, states with the lowest average price for the refilling of a 5kg cylinder for Cooking Gas were Osun- ₦1,694.44, Enugu- ₦N1,718.05 and Abuja- ₦1,739.17.

Furthermore, report shows that, “Average price for the refilling of a 12.5kg cylinder for Cooking Gas increased by 0.09% monthly and decreased by -3.35% yearly to ₦4,220.11 in August 2019 from ₦4,216.29 in July 2019.”

The average price paid by consumers for Petroleum a -1.0% decrease yearlt and 0.3% increase monthly to ₦145.5 in August 2019 from ₦145.0 in July 2019.

States with the lowest average price of petrol were Katsina- ₦142.50, Zamfara- ₦144.33 and Kaduna- ₦144.68.

States with the highest average price of petrol were Bayelsa, Cross River and Kogi state with ₦146.76 each.



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