BY BAMIDELE FAMOOFO
The South East geographical zone recorded the average highest cost of energy in December 2021 according to a report released at the weekend by the National Bureau of Statistics.
The highest average price in the period stood at N167.38 per litre in the region while South West recorded the least average price at N164.87 per litre.
Also, zonal representation of average price of Automotive Gas Oil (Diesel) shows that South East has the highest price of N307.35 while North West has the lowest price N263.65 when compared with other zones.
The average price paid by consumers for premium motor spirit (petrol) increased by 0.04% on a year-on-year basis to N165.77 in December 2021 when compared to the value in December 2020 (N165.70). The value decreased on a month-on-month basis to N165.77 in December 2021 from N167.60, showing a decrease of -1.09% when compared to the value recorded in November 2021.
States with the highest average price of premium motor spirit (petrol) were Ebonyi (N170.43), Kogi (N168.92) and Jigawa (N168.80). States with the lowest average price of premium motor spirit (petrol) were Kano (N163.57), Ogun (N163.00) and Zamfara (N167.50).
The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 28.97% on a year-on-year basis from a lower cost of N224.37 per litre recorded in the corresponding month of last year to a higher cost of N289.37 per litre in December 2021.
On a month-on-month basis, an increase of 4.15% was recorded from N277.83 in the preceding month of November to an average of N289.37 in December 2021.
Looking at the variations in the state prices, the top three States with the highest average price of the product in December include Enugu (N349.29), Borno (N340.00) and Oyo (N326.25). Furthermore, the top three lowest prices were recorded in the northern region: Kebbi, Yobe and Katsina State with N232.36, N226.61 and N225.00 respectively.
