Nigeria recorded a sharp reduction in daily demand for petrol, diesel and aviation fuel in July, as higher prices constrained consumption, while cooking-gas use increased, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s July fact sheet released on Monday.
Petrol consumption fell 25% month on month to 37.6 million litres per day, from 47.4 million litres per day in June. Diesel demand declined 9%, dropping from 16.0 million litres per day to 14.7 million litres, while aviation turbine kerosene consumption plunged 41% to 1.7 million litres per day from 2.9 million litres.
The contraction followed increases in the prices of petrol, diesel and aviation turbine kerosene, which weakened fuel demand across the country. By contrast, daily consumption of liquefied petroleum gas, widely known as cooking gas, rose 7% to 4.1 kilotonnes from 3.8 kilotonnes.
During July, petrol sold for between N1,131 and N1,350 per litre. Diesel prices ranged from N1,440 to N1,670 per litre, while aviation turbine kerosene cost between N1,750 and N2,650 per litre.
