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NBS Reports 88% Increase In Kerosene, Gas Prices

The National Bureau of Statistics (NBS)
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June 23, (THEWILL) – The National Bureau of Statistics (NBS), says kerosene and cooking gas, recorded an 88 percent price increase within one year.

The Bureau in a report titled, “National Household Kerosene Price Watch”, said the price of kerosene went up by 86.94 percent in one year.

The report also said that the average retail price per litre of household kerosene (HHK) paid by consumers in May 2022 increased by 15.21 percent on a month-on-month basis from N589.82 in April 2022 to N679.54 in May 2022.

The state profile analysis showed that the highest average price per litre in May 2022 was recorded in Enugu, with N868.75, followed by Ebonyi with N861.11 and Imo with N801.67. On the other hand, the lowest price was recorded 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 percent from N2,071.69 in May 2021.

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 N4,366.67, followed by Bayelsa with N4,325.00 and Adamawa with N4,250.00. On the other hand, Yobe recorded the lowest average price with N3,200.00; this was followed by Ogun and Ondo with N3,450.00 and N3,480.77 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 N4,094.39 followed by the North-Central with N3,989.98 and South-South with N3,977.72, while the South West recorded the lowest average retail price of N3,719.53.

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