…as Price of one litre of Kerosene jumps by 59.65%
The average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) dropped from the N4,397.68 it was in July 2022 to N4,072.87 in July 2023, a decrease of 7.39 percent year on year.
This is even as the price of one litre of Household Kerosene jumped by 59.65 percent, from N789.75 in July 2022 to N1,260.81 in July 2023.
The National Bureau of Statistics ( NBS) in its Liquefied Petroleum Gas (Cooking Gas) and National Household Kerosene Price Watch July 2023, said the average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) rose by 0.11 percent on a month-on-month basis from N4,068.26 recorded in June 2023 to N4,072.87 in July 2023.
The report showed that Anambra recorded the lowest price with N3,086.67, followed by Ondo and Ekiti with N3,285.00 and N3,293.33 respectively.
The zonal analysis showed that the North-Central recorded the highest average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N4,425.56, followed by the North-West with N4,265.97, while the South-West recorded the lowest with N3,711.22.
Also, the average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) rose by 0.43 percent on a month-on-month basis from N9,123.25 in June 2023 to N9,162.11 in July 2023.
On a year-on -year basis, this fell by 6.74 percent from N9,824.07 in July 2022. On state profile analysis, the report said Cross River recorded the highest average retail price for the refilling of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N10,175.33, followed by Ogun with N9,885.12 and Bayelsa with N9,878.42. Conversely, the lowest average price was recorded in Adamawa with N7,586.88, followed by Zamfara and Borno with N7,939.17 and N8,020.00 respectively.
The report also showed that the average retail price per litre of Household Kerosene (HHK) paid by consumers in July 2023 was N1,260.81, indicating an increase of 2.00 percent compared to N1,236.10 recorded in June 2023.
On a year-on-year basis, the average retail price per litre of the product rose by 59.65 percent from N789.75 in July 2022.
On state profile analysis, the highest average price per litre in July 2023 was recorded in Adamawa with N1,757.69, followed by Abuja with N1,466.67 and Benue with N1,465.63.
On the other hand, the lowest price was recorded in Jigawa with N991.67, followed by Kebbi with N1,066.67 and Kaduna with N1,075.64.
In addition, analysis by zone showed that the North-East recorded the highest average retail price per litre of Household Kerosene with N1,355.37, followed by the South-East with N1,337.17, while the North-West recorded the lowest with N1,108.28.
The average retail price per gallon of Household Kerosene paid by consumers in July 2023 was N4,306.07, showing an increase of 0.87 percent from N4,269.13 in June 2023. On a year-on-year basis, this increased by 49.18 percent from N2,886.41 in July 2022.