Nigerians still pay more for petrol despite price band

Some states in Nigeria still pay more for one litre of petrol despite newly released price band of N121.50 to N123.50 per litre by the Petroleum Products Pricing Regulatory Agency, PPPRA earlier in the month.

The National Bureau of Statistics, NBS report for May says consumers of Premium Motor Spirit, PMS in Borno paid the highest average price of N138.10 per litre in the country.

The PPPRA for the second time in the year, slashed petrol price from N125 to between N121.50 and N123.50 per litre, and also fixed the band for ex-depot price at between N102.13 and N103.13 per litre.

However, the bureau said Borno paid an average price of N138.10 per litre, followed by Taraba at N138.00 and Jigawa at N137.89.

States with the lowest average price of petrol were Abuja where it was sold at N123.50, then Anambra N124.85 and Kwara where it was bought at N124.88, according to the report.

Average price paid by consumers for the product decreased by -10.59 percent year on year and month on month by -0.89 percent to N129.67 in May from N130.84 in April, it added.