Average Price Of Petrol Drops To N145.80 Per Litre

The National Bureau of Statistics, NBS report, released yesterday, showed that the average price paid by consumers for premium motor spirit (petrol) decreased by -15.1% year-on-year and -1.1per cent month-on-month to N145.80 in December 2018 from N147.50 in November 2018. 

Although the report did not provide explanation, investigation by Vanguard showed that the fall in price was as a result of the drop in the price of crude oil from $85 to about $50 during the period. Petrol Consequently, refiners paid less for crude oil, thus leading to the fall in the price of petrol, a bulk of which is still imported from the global market into Nigeria. 

The NBS report also stated: “States with the highest average price of premium motor spirit (petrol) were Taraba (N150.27), Gombe (N150.20) & Bayelsa (N150.00). “States with the lowest average price of premium motor spirit (petrol) were Jigawa (N144.21), Bauchi (N144.20) & Yobe (N143.33).”

(Vanguard )