Nigerian consumers paid 9.28 percent more for automotive gas oil (diesel) in October, 2017, as against the September price.
Year-on-year, Nigerian consumers paid 7.85 percent more from October 2016 price, the National Bureau of Statistics (NBS) data released today show, which is a negative signal for cost of doing business and production in the country.
Data from NBS show that diesel price was N201.96 in October 2017 as against N184.80 in September 2017.
The price of premium motor spirit (petrol) averaged N146, rising 1 percent in October from N144.5 percent in September. It also signifies 0.1 percent slight rise year-on-year, from N145.9 percent in October 2016.
Jigawa, Zamfara and Adamawa states recorded highest average diesel prices in October, with month-on-month prices rising 20.65 percent, 10.53 percent and 24.29 percent respectively.
On y-on-y basis, the three states posted price hikes of 17.10 percent, 10.53 percent and 24.29 percent respectively.
Cross River, Delta and Borno recorded lowest average prices in October with y-on-y numbers standing at 2.71 percent, 1.24 percent and -1.20 percent. Month-on-month prices of these three states stood at 1.59 percent, 3.20 percent and -0.45 percent.
“States with the highest average price of diesel were Jigawa (N222.08) Zamfara (N218.75) and Adamawa (N217.50),” the NBS data say.
“States with the lowest average price of diesel were Cross River (N190.29), Delta (N190.06) and Borno (N189.69).”
The average price paid for diesel by the north-west was N208, while north-east’s was N201.27.North-cenral paid N196.24; south-west paidN205.67; south-south spent N194.01, while south-east consumers paid N207.39.
Consumers in Yobe, Benue and Ebonyi paid highest for petrol, spending N152.50, N150.83 and N148.57 respectively.
