Kerosene prices upsurge by 57.18% in August — NBS

The National Bureau of Statistics reports that household kerosene prices increased by 5718% in August, reaching N1,272.40 per litre.

The NBS’ National Household Kerosene Price Watch report, which The PUNCH was able to obtain, noted that the sharp increase from N809.52 in August 2022 highlighted rising energy prices.

The report showed an increase month over month, with the average price per litre coming in at N1,272.40, an alarming 0.92% increase from July’s N1,260.81.

Analyses at the state level reveal significant price differences.

Benue was second at N1,468.33 and Abuja was third at N1,486.89, but Adamawa was first at N1,745.83 per litre.

In contrast, Jigawa offered a more affordable HHK at N1,000.00, followed by Edo at N1,104.78 and Kaduna at N1,121.79.

At N1,370.64, the North-Eastern region of Nigeria had the highest average price per liter, closely followed by the South-East at N1,332.49.

The North-Western region had relatively lower prices at N1,163.25, in contrast.

Consumers paid an average of N4,351.53 per gallon, a 1.06 percent increase from the N4,306.07 of July. This represented a 47.66% increase year over year from N2,947.65 in August 2022.

Lagos had the highest HHK prices, reaching a staggering N5,350.83 per gallon, according to the report. Katsina was next with a price of N4,991.85 and Borno with a price of N4,897.47.

While Rivers and Oyo were priced higher than HHK at N3,287.50 and N3,711.79, respectively, Delta offered some relief by pricing HHK at N2,945.71 per gallon.

Gallon prices showed regional differences as well, with the North-Eastern region having the highest average at N4,637.71, closely followed by the South-East at N4,590.69.

The South-South region, in contrast, provided a more affordable option at N3,727.30, reflecting the various economic difficulties faced by various regions of the nation.