Wednesday, July 6, 2022

People in South-East Nigeria paid highest price for petrol in December: Report

The highest average price was recorded in the South-East at N167.38, while the South-West had the least average price of N164.87 in December.

• January 19, 2022
A filling station dispensing fuel
A filling station used to illustrate the story

The National Bureau of Statistics (NBS) says people living in the South-East paid the highest average price for petrol in December 2021.

The NBS, in its ‘Premium Motor Spirit (Petrol) Price Watch for December 2021’ released on its website, said the highest average price was recorded in the South-East at N167.38 while the South-West had the least average price of N164.87 in December.

“The average price paid by consumers for petrol increased by 0.04 per cent on a year-on-year basis to N165.77 in December 2021 when compared to the value of N165.70 in December 2020,” the NBS report stated.

It added that the value decreased on a month-on-month basis to N165.77 in December 2021 from N167.60, showing a decrease of -1.09 per cent when compared to the value recorded in November 2021.

“States with the highest average price of petrol were Ebonyi (N170.43), Kogi (N168.92) and Jigawa (N168.80),” the NBS further noted.

It added that states with the lowest average price of petrol were Kano (N163.57), Ogun (N163.00), and Zamfara (N167.50).

Meanwhile, the average retail price of diesel paid by consumers increased by 28.97 per cent on a year-on-year basis from N224.37 per litre in November to N289.37 per litre in December.

It mentioned that on a month-on-month basis, an increase of 4.15 per cent was recorded from N277.83 in November to an average of N289.37 in December.

“Looking at the variations in the state prices, the top three states with the highest average price of the product in December include Enugu (N349.29), Borno (N340.00), and Oyo (N326.25),” it stated. “Furthermore, the top three lowest prices were recorded in the northern region: Kebbi (N232.36), Yobe (N226.61) and Katsina (N225.00).”

The report added that the zonal representation of the average price of diesel showed that the South-East had the highest price of N307.35 while the North-West had the lowest price of N263.65 compared with other zones.


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