Price of kerosene in Nigeria rose by 87.12 % in January – NBS

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The National Bureau of Statistics (NBS) said that Nigerians bought kerosene at N434 per litre in January from N231.85 they bought the product in December 2016. The bureau announced this in a “National Household Kerosene Price Watch (January 2017)’’ released on Wednesday in Abuja.

The report stated that average price per litre paid by consumers for Kerosene increased by 87.12 per cent year-on-year. It stated that the price increased by 93.19 per cent month-on-month to N433.84 in January from N231.85 in December, 2016.

“States with the highest average price per litre of kerosene were Sokoto which sold for N647.62; Niger, N625.00 and Edo which sold for N560.19. “States with the lowest average price per litre of kerosene were Ogun which sold for N324.44; Zamfara sold for N300.00 and Plateau N270.00.’’

Similarly, the report stated that average price per gallon paid by consumers for Kerosene increased by 38.92 per cent year-on-year. The report stated that it increased by 101.80 per cent month-on-month to N1, 434 in January from N1,033 in December 2016. “States with the highest average price per gallon of kerosene were Sokoto which sold it N1, 814.00; Taraba sold for N1,787 while Oyo and Niger sold for N1,700.00.

“States with the lowest average price per litre of kerosene were Ogun (N1,182. 14), Zamfara (N1,211.11) and Plateau (N1,232.35). Meanwhile a Automotive Gas Oil (Diesel) Price Watch for January, also released by NBS, stated that average price paid by consumers for automotive gas oil (diesel) increased by 22.56 per cent year-on-year.

The report stated that the product increased by 50.06 per cent month-on-month to N240.52 in January from N196.20 in December 2016.

“States with the highest average price of diesel were Abuja and Bayelsa which sold for the product for N270, followed by Delta which sold for N256.77 and Cross River, which sold for N256.36.

“States with the lowest average price of diesel were Enugu (N230.78), Adamawa (N230.50) and Lagos, Oyo, Taraba (N230).’’

Fuel Prices are collected across all the 774 local governments across all states and the FCT from over 10,000 respondents and locations.

It reflected actual prices households stated they actually bought those fuels together with the prices reportedly sold by the fuel suppliers.

The average of all these prices is then reported for each state and the average for the country is the average for the state.