Prices of petroleum products increase by 24.20, 9.28 per cent in October

The average prices of National Household Kerosene, Liquefied Natural Gas also known as cooking gas, and Automotive Gas Oil (diesel) increased by 3.39, 24.20 and 9.28 per cent respectively during the month of October, latest data from the National Bureau of Statistics has shown.

The monthly report released Wednesday, revealed that the average price per litre paid by consumers for kerosene increased by 3.39 per cent from N264.48 in September 2017 to N273.44 in October 2017.NBS put the States with the highest average price per litre of kerosene to be Oyo, N324.76, Borno, N323.61; and Rivers, N320.37.

States with the lowest average price per litre of kerosene were Osun, N233.33; Ondo, N237.50; and Enugu, N237.78.Also, average price per gallon paid by consumers for kerosene increased by 6.31 per from N973.72 in September 2017 to N1,035.12 in October 2017.The agency listed the States with the highest average price per gallon of kerosene to include Adamawa, N1,185.83; Benue, N1,175.00; and Ondo, N1,160.00.

States with the lowest average price per litre of kerosene were Lagos, N912.11; Sokoto, N918.33; and Anambra, N927.00.Similarly, the average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) increased by 24.20 per cent from N 1,911.44 in September 2017 to N2, 374.07 in October 2017.

According to NBS, States with the highest average price for the refilling of a 5kg cylinder for cooking gas during the month under review were Bauchi & Osun, N2,500.00; Yobe, N2,433.33; and Katsina, N2,412.50.

States with the lowest average price for the refilling of a 5kg cylinder for cooking gas were Taraba & Oyo, N2,200.00; Sokoto & Ebonyi, N2,300.00; and Benue, N2,328.57.Moreover, average price fort he refilling of a 12.5kg cylinder for cooking gas decreased by 2.60 per cent from N3,937.71 in September 2017 to N4,561.14 in October 2017.

States with the highest average price for the refilling of a 12.5kg cylinder for cooking gas were Sokoto, N4,766.67; Abia, N4,712.50; and Anambra, N4,692.31.States with the lowest average price for the refilling of a 12.5kg cylinder for cooking gas were Nasarawa, N4,359.38; Kano & Bayelsa, N4,400 and Kebbi, N4,420.00.

Also, the average price paid by consumers for Automotive Gas Oil (diesel) increased by 9.28 per cent from N 184.80 in September 2017 to N201.96 in October 2017.NBS put the States with the highest average price of diesel to include Jigawa, N222.08; Zamfara, N218.75; and Adamawa, N217.50.

While the States with the lowest average price of diesel were Cross River, N190.29; Delta, N190.06; and Borno, N189.69. The price paid by consumers to buy a litre of Premium Motor Spirit (PMS) also known at petrol, increased by 0.1 per cent from N144.5 in September 2017 to N146 in October 2017.

According to NBS, States with the highest average price of petrol were Yobe, N 152.50); Benue, N 150.83; and Ebonyi, N148.57.States with the lowest average price of petrol were Ekiti and Katsina, N143.73; Jigawa, N143.80 and Abuja Federal Capital Territory, N144.

Speaking recently on petroleum product supply in Nigeria, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, assured that it would ensure a hitch-free supply of petroleum products nationwide during the season. He charged that the NNPC ensure steady supply of petroleum products even well beyond the festive periods hitherto often characterized by supply hiccups.

The festive season is fast approaching, a period when almost always, people expect queues to happen. If last year you had a queue-free festive season, we want this year’s to be a season where fuel station attendants will be inviting motorists to their stand for fueling”, he charged.

Baru prodded the Petroleum Products Marketing Company (PPMC) Management to re-strategized to ensure leaner operating cost that would enable it continuously add value to the NNPC Corporate entity, adding that the company was not expected to make losses.