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NBS Reports N107 Per Litre Average Fuel Price Nationwide - Politics - Nairaland

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NBS Reports N107 Per Litre Average Fuel Price Nationwide by Nobody: 6:51am On Aug 13, 2015
By Emeka Anaeto, Economy Editor

LAGOS — Average fuel price across the country has remained significantly higher than official pump price despite efforts by the Nigerian National Petroleum Corporation, NNPC, and the Ministry of Petroleum Resources to beef up supplies and enforce compliance to price regime.

According to the monthly research report of the National Bureau of Statistics, NBS, entitled ‘Premium Motor Spirit (Petrol) Price Watch’, fuel prices averaged N107.4 per litre in July 2015 as against the stipulated pump price of N87.

Last month, the Department of Petroleum Resources, DPR, set up a task force to supervise and monitor the sale of petrol in some depots, against the reports that most petrol stations were selling fuel at prices significantly above the official price due to a hike in ex-depot prices.

DPR had summoned the stakeholders in the fuel distribution chain: Pipelines and Products Marketing Company, PPMC; Petroleum Products Pricing Regulatory Authority, PPPRA; Major Oil Marketers Association of Nigeria, MOMAN; Depots and Petroleum Products Marketers Association, DAPPMA and the Independent Petroleum Marketers Association of Nigeria, IPMAN, and conveyed its displeasure at the illegal sale of petrol above the stipulated prices.

To curb sharp practices, the DPR had suspended direct sales of Premium Motor Spirit, PMS, and Dual Purpose Kerosene, DPK, from the affected depot owners and major marketers.
Also, the regulatory agency had visited some of these facilities and sealed the depots of a few oil marketers, while most other culprits escaped the agency’s sledge hammer by the whiskers.
But despite these measures, marketers appear to be outsmarting the regulators had successfully been selling significantly above the official depot price going by the NBS survey report released, yesterday.

However, at the average N107.4 per litre, the national average appears to be on downward trend as the previous month’s record shows an average price of N112.1 per litre.

The figure for May was the highest this year at N118.36 per litre.

One of the surprises in the report is that Bayelsa State, a major oil state, maintains highest average price of fuel in the country at N153 per litre far above the average and far higher than the next highest price recorded which was N130 per litre in Taraba State. Bayelsa average was N155 in June, the highest that month.

Lagos has the lowest average price of N92 per litre along side Kano State.

http://www.vanguardngr.com/2015/08/nbs-reports-n107-per-litre-average-fuel-price-nationwide/
Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by iykenex(m): 6:56am On Aug 13, 2015
Interesting
Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by temitemi1(m): 6:56am On Aug 13, 2015
We never had any issue with fuel price during my Hero reign cool

42 Likes 3 Shares

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by Firefire(m): 6:57am On Aug 13, 2015
This government is fraudulent...

Subsidy payment is now done in two ways in Nigeria under Buhari / APC government of fraud and propaganda.

Government subsidize fuel at N87/L

Nigerians pays the remaining subsidy between the official pump price of N87L and N107/L.

Buhari why ?

APC why ?

33 Likes 3 Shares

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by otokx(m): 6:58am On Aug 13, 2015
Its 110 in the station inside UNIPORT, they should just remove the subsidy.

2 Likes

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by Iddiot(m): 6:59am On Aug 13, 2015
...............
Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by Chiefpriest1(m): 7:00am On Aug 13, 2015
That's over 20 naira extra per litre. Multiply it by 40,000 ,000 litres which they say we consume daily and do the math.

This system has to die for Nigeria to live. That's why we have cabals who can hold the country to ransom.

They have become so rich and powerful from our commonwealth that they dictate who gets what, how and when.

3 Likes

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by tomakint: 7:02am On Aug 13, 2015
Are we going crazy or getting crazier in this zoogeria? N108 for what? I thought we voted for 'CHANGE'!

5 Likes 1 Share

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by fastypasty: 7:04am On Aug 13, 2015
interesting
Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by Firefire(m): 7:06am On Aug 13, 2015
Sincere9gerian:
By Emeka Anaeto, Economy Editor
LAGOS — Average fuel price across the country has remained significantly higher than official pump price despite efforts by the Nigerian National Petroleum Corporation, NNPC, and the Ministry of Petroleum Resources to beef up supplies and enforce compliance to price regime.
According to the monthly research report of the National Bureau of Statistics, NBS, entitled ‘Premium Motor Spirit (Petrol) Price Watch’, fuel prices averaged N107.4 per litre in July 2015 as against the stipulated pump price of N87.

File : Black Market rules the day as fuel scarcity bites harder in Port harcourt : Pix show: A black marketer, siphon fuel into a costumer’s vehicle yesterday along Station road in Port Harcourt. Photo: Nwankpa Chijioke
Last month, the Department of Petroleum Resources, DPR, set up a task force to supervise and monitor the sale of petrol in some depots, against the reports that most petrol stations were selling fuel at prices significantly above the official price due to a hike in ex-depot prices.
DPR had summoned the stakeholders in the fuel distribution chain: Pipelines and Products Marketing Company, PPMC; Petroleum Products Pricing Regulatory Authority, PPPRA; Major Oil Marketers Association of Nigeria, MOMAN; Depots and Petroleum Products Marketers Association, DAPPMA and the Independent Petroleum Marketers Association of Nigeria, IPMAN, and conveyed its displeasure at the illegal sale of petrol above the stipulated prices.
To curb sharp practices, the DPR had suspended direct sales of Premium Motor Spirit, PMS, and Dual Purpose Kerosene, DPK, from the affected depot owners and major marketers.
Also, the regulatory agency had visited some of these facilities and sealed the depots of a few oil marketers, while most other culprits escaped the agency’s sledge hammer by the whiskers.
But despite these measures, marketers appear to be outsmarting the regulators had successfully been selling significantly above the official depot price going by the NBS survey report released, yesterday.
However, at the average N107.4 per litre, the national average appears to be on downward trend as the previous month’s record shows an average price of N112.1 per litre.
The figure for May was the highest this year at N118.36 per litre.
One of the surprises in the report is that Bayelsa State, a major oil state, maintains highest average price of fuel in the country at N153 per litre far above the average and far higher than the next highest price recorded which was N130 per litre in Taraba State. Bayelsa average was N155 in June, the highest that month.
Lagos has the lowest average price of N92 per litre along side Kano State.

http://www.vanguardngr.com/2015/08/nbs-reports-n107-per-litre-average-fuel-price-nationwide/

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by juman(m): 7:10am On Aug 13, 2015
Obviously the subsidy is fraudulent.

Government should find a way to stop the subsidy thing.
Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by dunkem21(m): 7:13am On Aug 13, 2015
I talk am 2 days ago that Nigerians are already paying above N100/litre for PMS but change chanters no allow my mentions rest angry

The worst part is that at that price, Nigerians still queue to get this products. Black marketers and their adulterated products have come to stay just like in the 80's.

I miss you, GEJ.

28 Likes 1 Share

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by dunkem21(m): 7:14am On Aug 13, 2015
lalasticlala ..Good morning sir.
Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by major466(m): 7:16am On Aug 13, 2015
The only solution to the persistent fuel crisis in this country is Deregulation. Unless the government totally hands up and open up the sector to allow Nigerians participate fully in oil activities, these problems will continue.
But why the sharp-price disparity between states How come Lagos and Kano have the lowest fuel price at N92 and Bayelsa is N155 per litre
It will amount to wickedness and injustice if at the end of the day fuel subsidies has actually been implemented for select states instead of the entire federation.

3 Likes

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by MizMyColi(f): 7:23am On Aug 13, 2015

Smh
I will not criticize Buhari.

Today, I choose to offer prayers on his behalf.

Nigeria is a project that must work.

12 Likes 2 Shares

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by Ddonoflife(m): 7:27am On Aug 13, 2015
K next
Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by warrior01: 7:28am On Aug 13, 2015
We were told there is nothing like subsidy in the petroleum sector and petrol shouldn't have been more than #40 per liter. The price of crude is presently below $50 per barrel and according to reports, our local refineries are now working; how come the prices are above #110 at the pumps and why is Buhari still paying he subsidies money to. Apc and corruption are like bread and butter

10 Likes

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by Nobody: 7:29am On Aug 13, 2015
I thought the broom wielding demons said Buhari-phobia has made fuel available all over the country and at #87?

They say one thing but the reality on ground is different. That is what you get in a witch-hunting and vindictive govt of Propaganda.

Cc: lalasticlala

12 Likes 1 Share

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by Nobody: 7:31am On Aug 13, 2015
MizMyColi:

Smh
I will not criticize Buhari.

Today, I choose to offer prayers on his behalf.

Nigeria is a project that must work.

I join you today in the prayers. Good morning.

2 Likes

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by DaGC(m): 7:33am On Aug 13, 2015
Still buying here at the rate of N110 - N115 for over 2months now. Although it got as high as N150 in June.

2 Likes

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by Realdeals(m): 7:33am On Aug 13, 2015
All fuel station in my area now sell at #87, from the way they look at people buying the fuel, it seems they re weary of DPR officials.

2 Likes

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by major466(m): 7:34am On Aug 13, 2015
Firefire:
This government is fraudulent...

Subsidy payment is now done in two ways in Nigeria under Buhari / APC government of fraud and propaganda.

Government subsidize fuel at N87/L

Nigerians pay the remaining subsidy between the official pump price of N87L and N107/L.

Buhari why ?

APC why ?


Exactly what I just found out. Looks like some states are enjoying more fuel subsidy at the expence of others.

7 Likes 1 Share

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by Splashme: 7:36am On Aug 13, 2015
Is Nigeria on a spell?
Nobody is even talking.

Our 'food is ready' activists - Tunde Bakare, Femi Falana, NLC, Wole Soyinka are all dead silent because it's now their turn to feast on us.

We are suffering, groaning while they feed us with their 'fighting corruption' propaganda which till date no single thief has been identified

14 Likes 3 Shares

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by Realisticman: 7:42am On Aug 13, 2015
Until subsidy payment rises to 1.9 trillion Naira as was obtained during Jonathan's era, then I will start to criticise this government. As long as it remains far below the brazen stealing called subsidy during Jonathan, I will be patient to see the 'CHANGE' I have being hoping to get.
Do people truly know how hard it is to kill the smell of a rotten egg? That was the state Jonathan left the country!

1 Like 2 Shares

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by MizMyColi(f): 7:48am On Aug 13, 2015
dearpreye:


I join you today in the prayers. Good morning.

I have offered mine.
Good Morning Dear.

2 Likes

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by Splashme: 7:52am On Aug 13, 2015
Realisticman:
Until subsidy payment rises to 1.9 trillion Naira as was obtained during Jonathan's era, then I will start to criticise this government. As long as it remains far below the brazen stealing called subsidy during Jonathan, I will be patient to see the 'CHANGE' I have being hoping to get.
Do people truly know hoe hard it is to kiill the smell of a rotten egg? That was the state Jonathan left the country!

What is your level of education? Is this Buhari govt supposed to declare any subsidy at all? How many filling stations are selling products around your area and at what costs?

The Buhari govt has not made fuel available to Nigerians at the official price of #87 and you expect them to incure subsidy . . . . . . . even while international crude prices is still low?

6 Likes

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by Firefire(m): 8:09am On Aug 13, 2015
Lalasticlala... Good morning.
Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by chudionu58(f): 8:22am On Aug 13, 2015
What so much baffles me is how all of them have ignored kerosene! Change!! #170 close to NNPC depot. Enugu!

2 Likes

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by hassan85(m): 8:23am On Aug 13, 2015
anybody who is positive minded will see the changes everywhere
Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by chudionu58(f): 8:26am On Aug 13, 2015
hassan85:
anybody who is positive minded will see the changes everywhere
Please tell us Buhariphobia have affected the price of kerosene in your area.

3 Likes

Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by ssmarttssales: 8:27am On Aug 13, 2015
interesting
Re: NBS Reports N107 Per Litre Average Fuel Price Nationwide by Nobody: 8:31am On Aug 13, 2015
MizMyColi:


I have offered mine.
Good Morning Dear.

Leading a complex system like ours isn't an easy one. I've offered mine also. Good morning.

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