Price of petroleum products decline in May – NBS report - OrientEnergyReview

Price of petroleum products decline in May – NBS report

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…cooking gas declines by 1.7%  

Chibisi Ohakah, Abuja

Nigerian Bureau of Statistics (NBS) has announced significant declines in the prices of petroleum products nationwide in the month of May 2019, noting the crash of cooking gas by over 1.7%

The report contained in its latest statistics on the prices of Liquefied Petroleum Gas (LPG), stated that the average price for the refilling of a 5kg cylinder for cooking gas, decreased by -0.90% month-on-month and -2.13% year-on-year to N2, 028.04 in May 2019 from N2, 046.53 in April 2019.

For the 12.5kg cylinder, the cost of refilling decreased by -0.79% month-on-month and -1.82% year-on-year to N4, 220.44 in May 2019 from N4, 253.91 in April 2019, the NBS statistics said.

A state by state, sample breakdown of the prices showed that states with the highest average price for the refilling of a 5kg cylinder for cooking gas were Adamawa and Bauchi (N2, 500.00), Yobe (N2375.00) and Borno (N2, 342.86). States with the lowest average price for the refilling of a 5kg cylinder for cooking gas were Edo, Abuja and Ebonyi, which sold the product at N1, 714, N1, 675, and N1, 667 respectively.

Others are Bayelsa (N4, 690.00), Akwa Ibom (N4, 611.67) and Enugu (N4, 608.33) who recorded the highest average price for the refilling of a 12.5kg cylinder of LPG. N3,842.86, N3,825,00 and N3,806.25, the states of Katsina, Kano and Ekiti reportedly sold the least.

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