Average price paid by consumers for premium motor spirit popularly called petrol increased by 2.26 per cent year-on-year and month-on-month by 3.59 per cent to N148.78 in August 2020 from N143.63 in July 2020.
However, the federal government washed it’s hands off price regulation for petrol causing the pump price to hit between N161-N163 and in some states going for as high as N165 per litre.
Meanwhile, price of diesel and household kerosene had been deregulated several years ago.
In the Premium Motor Spirit (Petrol) Price Watch for August 2020, released by the National Bureau of Statistics (NBS) Tuesday in Abuja, Taraba (N153.67), Kebbi (N153.65) and Abia (N152.00), accounted for states with the highest average price of petrol.
On the other hand, Jigawa (N143.41), Niger (N143.90) and Sokoto (N145.00), accounted for states with lowest average price of petrol.
Meanwhile, the average price paid by consumers for automotive gas oil (diesel) decreased by -1.14 per cent month-on-month and by -3.14 per cent year-on-year to N221.88 in August 2020 from to N224.43 in July 2020.
States with the highest average price of diesel were Borno (N257.92), Adamawa (N246.00) and Taraba (N245.67) while Rivers (N197.07), Enugu (N200.50) and Plateau (N205.83), constituted states with lowest average price of diesel.
