Kerosene price up by 118.08% in one year – NBS

The National Bureau of Statistics (NBS) has said the price of household kerosene was up by 118.08% in twelve months.

According to the Bureau, in its document titled: “National Household Kerosene Price Watch (September 2022)“, the price rose from N434.39 in September 2021 to N947.30 in September 2022.

The documents said: “The average retail price per litre of household kerosene paid by consumers in September 2022 was N947.30, indicating an increase of 17.02% when compared to N809.52 recorded in August 2022″.

On a State profile analysis, the NBS said the highest average price per litre in September 2022 was recorded in Enugu, at N1, 272.50, followed by Ebonyi, at N1, 263.89, and Cross-River, at N1, 187.50. It, however, added that the lowest price was recorded in Rivers, at N686.27; followed by Bayelsa, at N715.15, and Nasarawa, at N735.29.

The NBS noted that the analysis by zones showed that the South-East region recorded the highest average retail price per litre, at N1, 128.28, followed by the South-West, at N1, 068.18, while the North-West recorded the lowest with N868.89. The document said the average retail price per gallon of the product paid by consumers in September 2022 was N3, 236.27, showing an increase of 9.79%, from N2, 947.65 in August 2022. On a year-on-year basis, this increased by 110.04% from N1, 540.82 in September 2021.

The NBS explained that on State-profile analysis, Abuja recorded the highest average retail price per gallon, at N4, 200.00; followed by Abia, at N4, 078.57, and Enugu, at N4, 052.38. It further stated that on the other hand, Borno State recorded the lowest price, at N2, 500.00, followed by Zamfara and Delta, at N2, 555.56, and N2, 576.92 respectively.

According to the document, analysis by zones showed that the South-East recorded the highest average retail price per gallon of household kerosene, at N3, 607.38; followed by the South-West, at N3, 468.42, while the North-East recorded the lowest, at N2, 803.96.

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