Average price of petrol hits N165.91 in July

The National Bureau of Statistics (NBS) said on Thursday the average price paid by consumers for Premium Motor Spirit (PMS) also known as petrol increased to N165.91 in July.

The NBS, which disclosed this in its Price Watch for July, said this represented a 15.51 percent increase over the N143.63 paid in the same month last year and 0.18 percent increase from N165.61 paid in June.

According to the agency, three states – Adamawa (N173.67), Kwara (N170.40) and Plateau (N170.40) paid the highest average price for petrol last month.

States with the lowest average price of petrol were Taraba (N162.25), Gombe (N163.17) and Niger (N163.71).

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Similarly, the average price paid by consumers for Automotive Gas Oil (diesel) increased by 3.46 percent month-on-month and 11.76 percent year-on-year from N242.43 in June to N250.82 last month.

States with the highest average price of diesel were Borno (N264.18), Adamawa (N261.00) and Abia (N260.00).

Plateau (N230.00), Anambra (N233.67) and Kogi (N234.17) paid the lowest price for the product during the month.