Kerosene price rises by 146%

The price of household Kerosene, also known as cooking kerosene skyrocketed by over 100 per cent in one year.Information Guide Nigeria

According to the latest Nigerian Bureau of Statistics statistics for November, the average retail price of kerosene per litre increased by around 146% from N441 in November 2021 to N1,083/litre in the same period last year.

According to the data, the average retail price per litre in November 2022 was 4% higher month on month compared to N1,041 in October.

As per state profile study, Akwa Ibom had the highest average price per litre in November 2022, with N1,417, followed by Cross River with N1,367, and Abuja with N1,307.

The lowest price, on the other hand, was reported in Borno with N876 followed by Rivers with N910 and Nasarawa with N913.

Furthermore, analysis by zone revealed that the South-East had the highest average retail price per litre, with N1,209, followed by the South-West, with N1,163, and the North-West, with N1,097.NYSC portal

The lowest reading was N959 in the north-east.

While the average retail price per gallon paid by consumers in November 2022 was N3,594, up 2% from N3,517 in October 2022.

It has climbed by 133% year on year from N1,544 in November 2021.

As shown by state profile assessments, Kwara had the highest average retail price per gallon (N4,506), followed by Enugu (N4,302) and Abia (N4,238).

Gombe, on the other side, had the lowest price of N2,430, followed by Borno and Bauchi, with N2,500 and N2,767, respectively.

The South-East had the highest average retail price per gallon of Household Kerosene with N4124, followed by the North Central with N3,811, and the North-East had the lowest with N2998.JAMB portal

The rising cost of cooking gas and diesel was also a factor.

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According to NBS, the average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas increased by 1.3% month on month, from N10,050 in October 2022 to N10,050 in October 2023.

In November 2022, the price will be N10,180. It increased by 39% year on year from N7308.06 in November 2021.

The South-West had the highest average retail price for refilling a 12.5kg cylinder with N10,561, followed by the South-South with N10,495, while the North-East had the lowest price with N9,600.

Prices at independent marketers’ outlets, on the other hand, have risen to almost N11, 000 every 12.5kg.

Due to scarcity that lasted into the festive season, petrol prices rose from around N165/litre to N250/litre at independent marketers’ stations, N180/litre at major marketers’ outlets, and N169/litre at NNPCL Retail stations.

According to NBS, diesel was sold for N808 per litre.

The Bureau will publish December numbers in January 2023.

Just like diesel, the household kerosene has been deregulated by the Federal Government.

Marketers have consistently called for the downstream sector to be deregulated.

Chairman, Major Oil Marketers Association of Nigeria, Olumide Adeosun, had advised the Federal Government to implement a phasal deregulation of the downstream sector to cushion the adverse effects of a sharp rise in the prices of fuel, especially the Premium Motor Spirit also known as petrol.JAMB Result

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