Kerosene Jumps BY 96.79% Year-on-Year

Tue May 30th, 2023 -

With the steady rise in the price of cooking gas and kerosene, which has escalated the cost of making a meal in Nigeria in recent times, the multidimensional challenges facing average Nigerians under the outgoing administration have worsened.

The latest cooking gas and kerosene price watch report for April 2023, released by the National Bureau of Statistics (NBS), shows that the price of five kilogrammes of cooking gas increased from N3,800.47 it was in April 2022 to N4,642.27 last month. This is an increase of 22.15 per cent year-on-year (y/y).

For kerosene, the increase was even higher, jumping from N589.82 in April 2022 to N1,160.67 or 96.79 percent y/y.The NBS report says on a month-on-month, (m/m) basis, the average retail price for refilling a 5kg cylinder of liquefied petroleum gas (cooking gas) increased by 0.69 per cent from N4,610.48 recorded in March 2023 to N4,642.27 in April 2023.

On state profile analysis, Kwara recorded the highest average price for refilling a 5kg cylinder of LPG with N5,000, followed by Abuja with N4,965.15 and Kaduna with N4,960.80.

According to the report, Rivers state recorded the lowest price with N4,250, followed by Enugu and Anambra states with N4,252.51 and N4,256.14 respectively.

Zonal analysis shows that the North-Central recorded the highest average retail price for refilling a 5kg cylinder of LPG with N4,893.67, followed by the North-West with N4,693.76. The South-East recorded the lowest with N4,461.65.

Also, the average retail price for refilling a 12.5kg cylinder of cooking gas increased by 0.59 per cent m/m, from N10,262.56 in March 2023 to N10,323.33 in April 2023. Yearly, it rose by 26.44 per cent, from N8,164.37 in April 2022.

The average retail price per litre of Household Kerosene (HHK) paid by consumers in April 2023 was N1,160.67, indicating an increase of 1.59 percent compared to N1,142.46 recorded in March 2023.




source: Guardian