The average prices of Automotive Gas Oil, AGO (diesel) and Liquefied Petroleum Gas (LPG), (cooking gas) decreased by 9.4 per cent and 9 per cent respectively between the first and second quarters of this year, Vanguard reports.
The Nigeria Bureau of Statistic (NBS), disclosed in its latest report that the price paid by consumers for diesel decreased by 9.4 percent in the period under review to N218.7 as against N241.5 in the preceding quarter of the same year.
The report stated that the average price of a 5kg cooking gas cylinder, decreased by 9 percent in Q2’17, to N2363.64 as against N2589.84, while that of 12.5 kg also decreased by 9.6 percent, from N5, 259.2 in Q1’17 to N4,754.3 in the same period under review. It disclosed that the average price for the refilling of a 5kg cylinder decreased by 9.43 % month-on-month and increased by 12.9% year-on-year to N2, 215.96 in June 2017 from N2, 446.57 in May 2017.
In another development, the price of PMS, popularly known as petrol, increased by 0.67 percent in Q2’17, to N150.3 as against N149.3 in the preceding quarter of 2016. NBS stated that, petrol price also increased by 1.2 percent year-on-year and decreased by -0.3 percent month-on-month to N150.3 in June 2017 from N150.7 in May 2017.