…..As Kerosene price rises 0.32%
Buyers of Liquefied Petroleum Gas (cooking gas) in Nigeria paid N4,562.51 as average retail price for refilling a 5kg cylinder in October this year, representing an increase of 8.89% month-on-month over the N4,189.96 they paid in the preceding month.
The National Bureau of Statistics (NBS) in its ‘Liquefied Petroleum Gas (Cooking Gas) Price Watch (October 2023)’ published on its website on Tuesday, November 21, reported that on a year-on-year basis, the price of the commodity increased by 1.76% from N4,483.75 in October 2022.
According to the statistics agency, on state profile analysis, Kano consumers paid the highest average price for refilling a 5kg cylinder with N5,181.43, followed by Adamawa buyers who paid N5,142.86, and Ogun consumers that bought the item at N5,093.75 during the month.
Conversely, the Bureau disclosed that Ebonyi buyers paid the lowest price of N3,971.43, followed by Osun and Edo users who paid N4,000.00 and N4,025.00 respectively for the same volume of gas in the month.
In addition, analysis of the report by zone showed that the North-West zone buyers bought the 5kg cylinder of LNG at the highest average retail price of N4,738.20, followed by the North-Central users who bought at N4,662.62, while the South-East consumers paid the lowest price at N4,088.65. A
The Bureau further clarified: “Also, the average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 14.04% on a month-on-month basis from N9,247.40 in September 2023 to N10,545.87 in October 2023.
“On a year-on-year basis, this rose by 4.93% from N10,050.53 in October 2022. On state profile analysis, Edo recorded the highest average retail price for the refilling of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N12,536.88, followed by Jigawa with N12,050.00 and Delta with N11,987.50.
“Conversely, the lowest average price was recorded in Zamfara with N9,050.00, followed by Lagos and Oyo with N9,071.05 and N9,407.14 respectively”, it added.
The statistics agency indicated that analysis by zone showed that the South-South users refilled a 12.5kg cylinder of the commodity at the highest average retail price of N11,480.60, followed by the North-Central with N10,683.97, while the South-East users refilled at the lowest price with N9,847.42.
In a related publication, the Bureau, in its ‘National Household Kerosene Price Watch (October 2023)’ report on Tuesday also stated that consumers paid N1,303.16 as average retail price per litre for Household Kerosene (HHK) in October this year, indicating an increase of 0.32% compared to N1,299.03 paid for the commodity in the preceding month.
The report showed that on a year-on-year basis, the average retail price per litre of the product rose by 25.18% from N1,041.05 in October 2022.
A further analysis of the report on state-by-state basis reflected that the highest average price per litre of kerosene in October was recorded in Adamawa with N1,676.19, followed by Abia with N1,555.21 and Abuja with N1,541.67.
On the other hand, the lowest price of N1,034.29 was paid by consumers in Kwara during the month, followed by Kebbi with N1,133.33 and Enugu with N1,134.52 while analysis by zone showed that the South-East buyers paid the highest average retail price of N1,404.49 per litre of the commodity followed by the North-East buyers who paid N1,371.03, while the North-West consumers paid the lowest average price of N1,221.22.
According to the NBS, the average retail price per gallon of kerosene paid by consumers in October 2023 was N4,581.89, representing an increase of 4.63% from N4,379.31 they paid for the commodity in the preceding month.
It further clarified that on a year-on-year basis, kerosene price increased by 30.28% from N3,516.87 in October 2022.
On state-by-state analysis, the report showed that Taraba consumers paid the highest average retail price per gallon for the commodity at N5,500.00, followed by Lagos buyers who paid N5,484.38 and their Adamawa counterparts that paid N5,214.29 for a gallon in the month under review.
The Bureau stated that on the other hand, Delta consumers paid the lowest price average price of with N3,108.33 for a gallon of kerosene, followed by Rivers and Ogun buyers who paid N3,860.00 and N3,900.00 respectively for the same quantity.
The report further reflected that on zone-by-zone basis, the North-East consumers bought kerosene at the highest average retail price of N5,096.83 per gallon, followed by their North West and South-South counterparts who paid N4,773.87 and N4,017.76 respectively for the volume with South-South recording the lowest average price.
