The National Bureau of statistics, NBS has released the July figures for the prices PMS, diesel, kerosene and cooking gas.
The average retail price paid by consumers for Premium Motor Spirit (Petrol) for the month of July 2022 was N190.01, indicating a 14.53% increase when compared to the N165.91 in July 2021.
The figure was also 8.03% higher compared to the average price value N175.89 for the June 2022.
On State profile analysis, Niger State had the highest price for Petrol at N208.00, followed by Adamawa with N207.57 and Nasarawa with N205.50. On the other hand, it was lowest in Edo at N173.50, followed by Imo with N175.79 and Bayelsa with N180.00.
Price of Diesel
The average retail price of Diesel for the month under review was N774.38 per litre, an increase of 208.74% from N250.82 per litre recorded in July of the previous year. On a month-on-month basis, this increased by 5.53% from N733.78 per litre reported in June 2022.
The cost of Diesel was highest in Plateau with N866.00, Oyo at N860.00, and Ebonyi at N851.43, while the lowest price was recorded in Yobe with N686.67, then Katsina at N695.00 and Gombe with N722.00.
The average retail price per litre of Household Kerosene increased by 3.68% in July this year. Consumers paid N789.75 compared to N761.69 recorded in June 2022.
On a year-on-year basis, the price per litre of the product rose by 98.76% from N397.34 in July 2021.
The highest average price per litre in July 2022 was recorded in Enugu with N1,003.68, Ekiti with N989.58 and Osun with N949.12 and lowest in Bayelsa with N643.06, Benue with N654.76 and Rivers with N655.24.
According to the NBS, average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 4.25% on a month-on-month basis from N4,218.38 recorded in June 2022 to N4,397.68 in July 2022.
On a year-on-year basis, this rose by 105.35% from N2,141.59 in July 2021.
The cost of the product was highest in Adamawa where a 5kg Cylinder of Cooking gas was sold for N4,966.67, followed by Plateau at N4,650.00, then Kwara and Gombe with N4,625.00 each.
On the other hand, Kano recorded the lowest price with N3,981.25, followed by Yobe and Bauchi with N4,000.00 and N4,071.03.