Petrol price still high in Yobe at N177 per litre

Despite efforts by the Nigerian National Petroleum Corporation (NNPC) to crash prices through massive importation supported by output increase from the local refineries, prices of fuels have remained high across the country.

High cost of petroleum products will impoverish Nigerians the more and cut deeper into the already pressured disposable income given the very high inflation rate and economic downturn in the country.

The National Bureau of Statistics (NBS), in its latest petroleum products
price watch, released on Tuesday, disclosed that Premium Motor Spirit (PMS) also known as petrol, still sells as high as N177/litre in Yobe, while
kerosene was astronomically high in Lagos at N455, Ogun, N425.44; and Ondo, 424.07 per litre respectively.

Likewise, average price paid by consumers for Automotive Gas Oil (AGO) or diesel increased by 3.68 per cent month-on-month and 68.74 per cent
year-on-year to N249.38 in February 2017 from N240.52 in January 2017.