NBS: Plateau, Nasarawa paid above N170 for petrol in October

The National Bureau of Statistics (NBS) says Plateau, Nasarawa and Abia States paid the highest amount for premium motor spirit (PMS), better known as petrol, in October 2021.

The average petrol price during the month under review is N165.60.

This is contained in the NBS report, titled: ‘Premium motor spirit (petrol) price watch (October 2021)’.

According to the report, the average price paid by consumers for petrol increased by 2.75 percent on a year-on-year basis to N165.60 in October 2021 when compared to the value in October 2020 (N161.17).

The value also increased on a month-on-month basis to N165.60 in October 2021 N164.85 from showing an increase of 0.46 percent when compared to the value recorded in September 2021.

“States with the highest average price of premium motor spirit (petrol) were Plateau (N172.43), Nasarawa (N170.45) and Abia (N170.25).” the report reads

“States with the lowest average price of premium motor spirit (petrol) were Yobe (N159.86), Kwara (N160.00) and Lagos (N162.67).”

Across the geopolitical zones, the report showed that the average petrol price was highest in the south-east (N167.32), followed by the north-central (N166.57).

Meanwhile, north-west recorded the lowest average petrol price at N164.46, followed by south-west and south-south N164.53.

On the other hand, according to the Diesel Price Watch report, the average price paid by consumers for diesel decreased by -0.22 percent to N254.07 in October 2021 from N254.64 in September 2021 on a month-on-month basis.

The value recorded in the period under review increased by 15.59 percent on a year-on-year basis to N254.07 in October 2021 when compared to the value (N219.80) recorded in October 2020.

Diesel was most expensive in Taraba N280.00, Borno N278.50 and Ogun N275.36.

Kebbi, Zamfara and Yobe had the lowest average price of diesel at N214.17, Zamfara N223.33 and Yobe N227, respectively.

Across the geopolitical zones, the highest average price was recorded in the south-west zone (N265.64) while the north-west had the least average price (N237.49) in October 2021.