South East residents pay highest average price for petrol in October – NBS

The National Bureau of Statistics (NBS) says South East residents paid the highest average price for Premium Motor Spirit (PMS), popularly known as petrol, in October.

The NBS said this in its “Premium Motor Spirit (Petrol) Price Watch for October 2021″, released on its website on Tuesday in Abuja.

According to it, the highest average price was recorded in the South East zone at N167.32 while the North East had the least average price at N164.46 in the month under review.

“The average price paid by consumers for petrol increased by 2.75 per cent on year-on-year basis to N165.60 in October when compared to the value in October 2020 (N161.17).”

“The value also increased on month-on-month basis to N165.60 in October from N164.85, showing an increase of 0.46 per cent when compared to the value recorded in September.”

“States with the highest average price of petrol are Plateau (N172.43), Nasarawa (N170.45) and Abia (N170.25), while states with the lowest average price of petrol are Yobe (N159.86), Kwara (N160) and Lagos (N162.67).”

Meanwhile, the average price paid by consumers for Automotive Gas Oil, popularly referred to as diesel, decreased by -0.22 per cent to N254.07 in October from N254.64 in September on month-on-month basis.

The bureau said that the value recorded in the period under review increased by 15.59 per cent on year-on-year basis to N254.07 in October 2021 when compared to the value of N219.80 recorded in October 2020.

It said that Taraba at N280, Borno N278.50 and Ogun at N275.36 recorded the highest average price of diesel, while Kebbi with N214.17, Zamfara N223.33 and Yobe at N227 recorded the lowest average price of diesel.

“Likewise, the highest average price was recorded in the South West zone (N265.64) while the North West had the least average price (N237.49) in October 2021”, it added.