Kerosene price jumps 146% YoY stoked by scarcity and inflation
By Jeph Ajobaju, Chief Copy Editor
Kerosene used by most Nigerians who cannot afford cooking gas has shot up in price 146 per cent in the past one year, according to the latest data from the Nigerian Bureau of Statistics (NBS) for November.
Cooking gas price also shot up 39 per cent for 12.5kg cylinder refill.
Average kerosene price per litre rose from N441 in November 2021 to N1,083 in November 2022.
Average price per litre was 4 per cent higher month-on-month (MoM) in November 2022 against N1,041 in October 2022.
The highest average price per litre in November 2022 was seen in Akwa Ibom (N1,417) followed by Cross River (N1,367), and Abuja (N1,307). The lowest in Borno (N876) followed by Rivers (N910), and Nasarawa (N913).
The South East had the highest average price (N1,209), followed by the South West (N1,163), and North East (N959).
NBS figures show the average price per gallon in November 2022 was N3,594 an increase of 2 per cent from N3,517 in October 2022.
It increased 133 per cent year-on-year YoY from N1,544 in November 2021.
Kwara saw the highest average price per gallon (N4,506), then Enugu (N4,302), and Abia (N4,238).
Gombe recorded the lowest price (N2,430), followed by Borno (N2,500), and Bauchi (N2,767).
The highest average price was in the South East (N4,124), next North Central (N3,811), and North East (N2,998).
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Rises in prices of cooking gas and diesel
There were also rises in the prices of cooking gas and diesel, per reporting by The PUNCH.
The NBS said the average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (cooking gas) rose 1.3 per cent MoM from N10,050 in October 2022 to N10,180 in November 2022.
YoY, it hiked 39 per cent from N7308.06 in November 2021.
The South West recorded the highest average price (N10,561), followed by the South South (N10,495), and the North East (N9,600).
But it jumped to about N11,000 per 12.5kg at the outlets of independent marketers.
Petrol price increased from about N165 per litre in December 2022 to N250 in January 2023 at stations operated by independent marketers, N180 per litre at the stations of major marketers and N169 at stations owned by the Nigerian National Petroleum Company (NNPC).
Diesel, which is deregulated like household kerosene, was sold for N808 per litre, according to the NBS.