Petrol, diesel, aviation fuel consumption crash as energy prices rise across Nigeria

Nigeria’s daily consumption of Premium Motor Spirit, PMS, Automotive Gas Oil (diesel) and Aviation Turbine Kerosene (ATK) dropped significantly.

This is according to the July Fact Sheet data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, on Monday.

According to the regulator’s data, daily petrol consumption dropped by 25 per cent to 37.6 million litres per day (MLD) in July from 47.4 MLD in June.

Also, daily consumption of diesel and ATK declined by nine per cent and 41 per cent, respectively, falling from 16.0 million litres per day (MLD) to 14.7 MLD for diesel and from 2.9 MLD to 1.7 MLD for ATK.

The development came as hikes in petrol, diesel and ATK prices impacted Nigerians’ consumption.

However, daily consumption of Liquefied Petroleum Gas, LPG, commonly known as cooking gas, rose by seven per cent to 4.1 kilotonnes per day (KT/D) from 3.8 KT/D.

DAILY POST reports that in July, petrol prices ranged between N1,131 and N1,350 per litre, while diesel prices ranged between N1,440 and N1,670 per litre. ATK prices ranged between N1,750 and N2,650 per litre.