Prices Of Petrol and Kerosene Spiked In August

Two reports from the National Bureau of Statistics have revealed that the prices of kerosene and Premium Motor Spirit, popularly known as petrol, increased year-on-year in August.

The National Household Kerosene Price Watch report for August 2021 by the NBS disclosed that the average price per litre paid by consumers for kerosene increased by 0.67 per cent month-on-month and by 15.43 per cent year-on-year to N400.01 in August from N397.34 in July.

Also, the Premium Motor Spirit Price Watch report showed that the average price paid by consumers for premium motor spirit increased by 10.87 per cent year-on-year and decreased month-on-month by -0.58 per cent to N164.91 in August 2021 from N165.91 in July 2021.

The report said that Enugu State recorded the highest average price per litre of kerosene at N495.05.

It was followed by Ebonyi with N489.17, while Cross River was third at N487.50 per litre.

The states with the lowest average price per litre of kerosene were Bayelsa at N255.56, Katsina N322.92 and Osun N325.00.

For PMS, Abia State recorded the highest average price per litre at N173.14. Ebonyi came next at N170.13 per litre while Lagos was third highest at N168.31 per litre.