Petrol price averages N149.8 per litre in February – NBS

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Despite efforts by the Nigerian National Petroleum Corporation (NNPC) to crash prices through massive importation supported by output increase from the local refineries, prices of fuels have remained high across the country, The Guardian reports.

The National Bureau of Statistics (NBS), in its latest petroleum products price watch, released on Tuesday, disclosed that states with the highest average price for petrol aside from Yobe with N177, were Sokoto, N162.1 and Taraba, N161.7, while Lagos, N144.9; Delta, N144.8 and Osun N144.7 recorded the lowest respectively.. According to the Bureau, the average price paid by consumers for petrol increased by 50.1 per cent year-on-year and 0.7 per cent month-on-month to N149.8 in February 2017 from N148.7 in January 2017.

Likewise, the average price paid by consumers for Automotive Gas Oil (AGO) or diesel increased by 3.68 per cent month-on-month and 68.74 per cent year-on-year to N249.38 in February 2017 from N240.52 in January 2017. The highest average price for diesel were Adamawa, N280; Ebonyi, N272.5 and Cross River and Borno, 271, while those with the lowest were Oyo, N226.67; Bauchi, N226 and Osun, N220.