…..As Kerosene’s Surges 18.78%
The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 5.82% on a month-on-month basis from N4,562.51 recorded in October 2023 to N4,828.18 in November 2023, the National Bureau of Statistics (NBS) has reported
The statistics agency, in its ‘Liquefied Petroleum Gas (Cooking Gas) Price Watch (November 2023)’ published Thursday on its website, indicated that on a year-on-year basis, the price of the item increased by 6.13% from N4,549.14 in November 2022.
It reported that on state profile analysis, Benue users of the commodity paid thehighest average price for refilling a 5kg Cylinder with N5,466.67, followed by Jigawa with N5,396.43, and Adamawa with N5,357.14.
On the other hand, the report showed that Anambra users of cooking gas paid the lowest price for 5kg Cylinder at N3,985.29, followed by Imo and Abia users who paid N4,052.78 and N4,100.00 respectively.
The Bureau reported that an analysis of the prices of the item on zone-by-zone basis reflected that the North-East user paid the highest average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) at N5,029.25, followed by their North-West counterparts, who paid N4,999.34, while the South-East users paid the lowest price for the same volume of cooking gas at N4,083.52.
In a related report titled ‘National Household Kerosene Price Watch (November 2023)’, the Bureau reported that the prices paid for an average retail price per litre of Household Kerosene (HHK) by consumers in November 2023 was N1287.10, indicating a decline of 1.23% when compared to N1,303.16 recorded in the preceding month.
However, it clarified that on a year-on-year basis, the average retail price per litre of the product rose by 18.78% from N1,083.57 in November 2022.
On state profile analysis, the NBS’ report indicated that Adamawa consumers paid the highest average price per litre at N1,588.10 in the month, followed by Imo buyers, who paid N1,521.97 per litre and Abuja users that paid N1,512.50 for a litre of kerosene in the month under review.
According to the statistics agency, on the other hand, the lowest price paid for a litre of the commodity was recorded in Kwara with N937.50, followed by Osun with N1,100.00 and Zamfara with N1,125.00.
The Bureau further indicated that when analyzed on zone-by-zone basis South-East buyers paid the highest average retail price per litre of kerosene in November this year at N1,384.49, followed by the North-East users who paid N1,367.81, while the North-West consumers paid the lowest average price of N1,226.75.
In addition, the report showed that the average retail price per gallon of kerosene paid by consumers in November 2023 was N4,583.44, showing an increase of 0.03% from N4,581.89 in October 2023.
However, on a year-on-year basis, the Bureau reported that the price of the commodity increased by 27.51% from N3,594.44 in November 2022.
