57.18% surge in kerosene prices recorded in August - NBS
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57.18% surge in kerosene prices recorded in August – NBS

The National Bureau of Statistics (NBS) reported a significant surge in household kerosene (HHK) prices, reaching a staggering N1,272.40 per litre in August.

This marks a sharp increase of 57.18% compared to August 2022 when it was priced at N809.52 per litre, underscoring the mounting energy costs faced by consumers.

The NBS’ National Household Kerosene Price Watch report, obtained by The PUNCH, also noted a month-on-month uptick, with the average price per litre increasing by 0.92%, rising from July’s N1,260.81.

An analysis at the state level revealed substantial pricing disparities across Nigeria. Adamawa had the highest HHK price at N1,745.83 per litre, followed closely by Benue at N1,468.33 and Abuja at N1,486.89.

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

Regionally, the North-Eastern part of Nigeria faced the highest average price per litre at N1,370.64, followed closely by the South-East at N1,332.49.

The North-Western region, on the other hand, experienced relatively lower prices at N1,163.25.

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When considering gallon prices, consumers encountered an average cost of N4,351.53, reflecting a 1.06% increase from July’s N4,306.07.

On a year-on-year basis, this marked a substantial 47.63% rise from N2,947.65 in August 2022.

Lagos emerged with the highest HHK prices by the gallon, reaching a staggering N5,350.83, followed closely by Katsina at N4,991.85 and Borno at N4,897.47.

Delta provided some relief, pricing HHK at N2,945.71 per gallon, followed by Rivers and Oyo at N3,287.50 and N3,711.79, respectively.

Gallon prices exhibited regional disparities, with the North-Eastern region experiencing the highest average at N4,637.71, closely followed by the South-East at N4,590.69.

In contrast, the South-South region offered a more affordable option at N3,727.30, highlighting the diverse economic challenges faced by different regions across the country.