Average price paid by consumers for Premium Motor Spirit (PMS) also known as petrol, increased by 0.5 per cent month-on-month from N149.9 in April to N150.7 in May 2017, The Guardian reports.

According to the National Bureau of Statistics (NBS), which disclosed this in its petroleum product statistics, listed the states with the highest average price of petrol to include Gombe, N172.5; Taraba, N162.00; and Adamawa/Borno, N160. States with the lowest average price of petrol were Abuja, Delta, Ekiti, Katsina, Ogun, Lagos and Osun, N145.3; Ondo, N145.31 and Edo and Oyo; N145.33.

Speaking on why the price of PMS fluctuates, the Chief Operating Officer, Downstream, Nigerian National Petroleum Corporation (NNPC), Henry Obih, said the foreign exchange and price of product at the international market has the ability of affecting the Nigerian downstream sector.

 

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