Price Of PMS Falls By 11.33% In One Year, Says NBS

The average price paid by consumers for Premium Motor Spirit fell by 11.33 per cent to N128.88 in one year, the National Bureau of Statistics said in its latest report.

The NBS also disclosed that kerosene witnessed price surge by 5.58 per cent during the same period.

This was contained in its Price Watch Report for PMS and National Household Kerosene for June.

According to the NBS, as of June 2019, PMS was N145.34, but fell to N128.88 in the same month of 2019.

Analysis of the Report showed that States with the highest average price of PMS were Gombe (N139.33), Adamawa (N138.00) and Osun/Taraba (N135.50).

The report added that states with the lowest average price of PMS (petrol) were Kwara (N123.86), Ogun (N124.38) and Oyo (N124.39).

On National Household Kerosene, the average price per litre paid by consumers increased by 5.58 per cent year-on-year to N334.08 in June 2020 from N315.43 in June 2019.

Similarly, average price per gallon paid by consumers for National Household Kerosene decreased by 0.44 per cent month-on-month and by 1.19 per cent year-on-year to N1,202.04 in June 2020 from N1,207.37 in May 2020.

The Report said the States with the highest average price per litre of kerosene were Taraba (N404.17) , Sokoto (N402.78), and Benue (N381.25).

On the other hand, States with the lowest average price per litre of kerosene were Bayelsa (N250.00), Rivers (N273.15) and Oyo (N279.63).

States with the highest average price per gallon of kerosene were Kebbi (N1,407.27), Borno (N1,366.67) and Ekiti (N1,316.67).

The report added that States with the lowest average price per gallon of kerosene were Osun (N1,004.29), Anambra (N1,026.43) and Bayelsa (N1,055).