Price of petrol jumps by 14% in 2020 —NBS report

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Price of petrol jumps by 14% in 2020 —NBS report
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The average price paid by consumers for premium motor spirit (PMS) or petrol increased by 14.00 per cent year-on-year from N145 to N167 in December 2020, the latest report by the National Bureau of Statistics (NBS) has revealed.

The report titled, “Premium Motor Spirit (Petrol) Price Watch – December 2020,” shows  that States with the highest average price of premium motor spirit (petrol) were Abia (N176.19), Kwara (N172.43) and Kebbi (N169.92) according to the report.

It also said that states with the lowest average price of premium motor spirit (petrol) were Kaduna (N155.00), Katsina (N160.25) and Bauchi (N162.57).

In another report, the NBS said that the average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) increased by 0.12 per cent month-on-month and decreased by -3.41 per cent year-on-year to N1,949.75 in December 2020 from N1,947.47 in November 2020.

Its report titled “Liquefied Petroleum Gas (Cooking Gas) Price Watch – December 2020,” which made the disclosure that states with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Bauchi (N2,489.12), Borno (N2,396.69) and Adamawa (N2,392.88).

The data also said that states with the lowest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) was Enugu (N1,563.75), Imo (N1,678.89) and Oyo (N1,691.67).

Similarly, according to the report, average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) increased by 1.75 per cent month-on-month and decreased by -0.52 per cent year-on-year to N4,082.97 in December 2020 from N4,082.97 in November 2020.

The NBS said the average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) increased by 0.12 per cent month-on-month and decreased by -3.41 per cent year-on-year to N1,949.75 in December 2020 from N1,947.47 in November 2020.

The report added that states with the highest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Delta (N4,838.46), Cross River/Sokoto (N4,800.00) and Akwa Ibom (N4,614.49).

The data said states with the lowest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Kaduna (N3,191.67), Zamfara (N3,462.50) and Niger (N3,500.00).

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