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Business News of Wednesday, 19 May 2021

Source: www.premiumtimesng.com

Kerosene, diesel most expensive in Ebonyi, Benue in April - NBS

Scarcity of fuel and kerosene hit Ebonyi and Benue States Scarcity of fuel and kerosene hit Ebonyi and Benue States

Kerosene and diesel sold at the highest rates in Ebonyi and Benue States in April, the National Bureau of Statistics has said.

In its price watch published Tuesday, the NBS said the two states appeared in two groups of states where diesel and kerosene sold at the highest rates that month.

For kerosene, the most expensive states were Taraba, Ebonyi and Benue, while diesel sold at the highest rates Benue, Borno and Ebonyi States.

On average, the report said the price of Kerosene increased by 0.38 per cent month-on-month and by 5.95 per cent year-on-year to N362.68 in April 2021 from N361.29 in March 2021.

“States with the lowest average price per litre of kerosene were Abuja at N250.00, Bayelsa at N255.71 and Yobe at N290.28,” the report said.

Similarly, the average price per gallon paid by consumers for National Household Kerosene decreased by -0.87 per cent month-on-month and increased by 1.81 per cent year-on-year to N1,226.08 in April 2021 from N1,236.86 in March 2021.

“States with the highest average price per gallon of kerosene were Katsina (N1,572.73), Kebbi (N1,570.00) and Jigawa (N1,422.22).

“States with the lowest average price per gallon of kerosene were Bayelsa (N917.50), Delta (N1008.46) and Rivers (N1062.50),” the report said.

The bureau said the average price paid by consumers for Automotive Gas Oil (diesel) increased by 0.76 per cent month-on-month and by 5.84 per cent year-on-year to N237.19 in April 2021 from N235.41 in March 2021.

“Also, states with the lowest average price of diesel were Anambra (N211.92), Kogi (N215.00) and Jigawa (N217.93),” it said.

It said the various prices were collected across all the 774 local governments across all states and the Federal Capital Territory (FCT), from more than 10,000 respondents and locations.

The NBS said its audit team subsequently conducted randomly selected verification of prices recorded.