Within a year, the price of Liquefied Petroleum Gas, or cooking gas, increased by 88 percent while the price of kerosene increased by 86.94 percent according to a recent National Bureau of Statistics (NBS) report titled “National Household Kerosene Price Watch.”
The average retail price per litre of household kerosene (HHK) paid by customers in May 2022 grew by 15.21 percent monthly, from N589.82 in April 2022 to N679.54 in May 2022, according to the study.
According to the state profile research, Enugu had the highest average price per litre in May 2022, with N868.75, followed by Ebonyi with N861.11 and Imo with N801.67.
The lowest price, on the other side, was N558.06 in Bayelsa. Yobe came in second with N601.33, followed by Nasarawa with N603.33.
In addition, the South-East recorded the highest average retail price per litre of household kerosene with N773.09, followed by the South-West with N738.19 and the North-Central with N668.78, while the North-East recorded the lowest with N632.06.
Also, in a separate report titled “Liquefied Petroleum Gas (Cooking gas) Price Watch,” the NBS said the average retail price for cooking gas increased by 89.28 percent from N2071.69 in May 2021.
According to the report, the average retail price per litre of Household Kerosene paid by consumers in May 2022 increased by 15.21 percent monthly from N589.82 in April 2022 to N679.54 in May 2022.
Based on state profile analysis, the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) was recorded in Gombe with N4366.67, followed by Bayelsa with N4325.00 and Adamawa with N4250.00. On the other hand, Yobe recorded the lowest average price with N3200.00, followed by Ogun and Ondo with N3450.00 and N3480.77 respectively.
In addition, prices analyzed by zones show that the average retail price for refilling a 5kg cooking gas cylinder was highest in the South-East with N 4094.39, followed by the North-Central with N3989.98 and South-South with N3977.72. At the same time, the South West recorded the lowest average retail price of N3719.53.
Both products hit an 88.11 percent average when aggregated, based on the numbers for the past 12 months.
An energy expert, Bala Zakka, while speaking in an exclusive chat with our correspondent, attributed the sharp increase in the price of the products to Nigeria’s continued inability to refine petroleum products for local consumption.