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Kerosene, Gas Prices Increase 88% In One Year – NBS

Kerosene, Gas Prices Increase 88% In One Year – NBS

Kerosene, Gas Prices Increase 88% In One Year – NBS

Kerosene, Gas Prices Increases To 88% In One Year – NBS

Liquefied Petroleum Gas and Kerosene, also known as cooking gas, are the two main cooking fuels that had an 88 per cent price increase in just one year.

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According to a recent report by the National Bureau of Statistics titled, “National Household Kerosene Price Watch,” the price of kerosene went up by 86.94 per cent in one year.

According to the research, customers paid an average retail price per litre of household kerosene (HHK) in May 2022 which climbed by 15.21% month over month from N589.82 in April 2022 to N679.54 in May 2022.

The highest average price per litre in May 2022 is in Enugu with N868.75, followed by Ebonyi with N861.11 and Imo with N801.67. On the other hand, the lowest price is in Bayelsa with N558.06, followed by Yobe with N601.39 and Nasarawa with N603.33.

In addition, the South-East recorded the highest average retail price per litre of household kerosene with N773.09, followed by the South-West with N738.19 and the North-Central with N668.78, while the North-East recorded the lowest with N632.06.

Also, in a separate report titled “Liquefied Petroleum Gas (Cooking gas) Price Watch,” the NBS said the average retail price for cooking gas increased by 89.28 per cent from N2071.69 in May 2021.

Kerosene, Gas Prices Increases To 88% In One Year – NBS

According to the report, the average retail price per litre of Household Kerosene paid by consumers in May 2022 increased by 15.21 per cent on a month-on-month basis from N589.82 in April 2022 to N679.54 in May 2022.

Based on state profile analysis, the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) was recorded in Gombe with N4366.67, followed by Bayelsa with N4325.00 and Adamawa with N4250.00. On the other hand, Yobe recorded the lowest average price with N3200.00; this was followed by Ogun and Ondo with N3450.00 and N3480.77 respectively.

In addition, prices analysed by zones show that the average retail price for refilling a 5kg cylinder of cooking gas was highest in the South-East with N 4094.39 followed by the North-Central with N3989.98 and South-South with N3977.72, while the South West recorded the lowest average retail price of N3719.53.

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When aggregated, both products hit an 88.11 per cent average, based on the numbers for the past 12 months.

An energy expert, Bala Zakka, while speaking in an exclusive chat with our correspondent, attributed the sharp increase in the price of the products to Nigeria’s continued inability to refine petroleum products for local consumption.


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