Business
Cost of kerosene soars as Nigerians battle inflation
With Nigerians still battling the rise in food prices and other essentials due to rising inflation, the average price of Kerosene, another essentials rose by 9.03 per cent in May 2021, latest figure from the National Bureau of Statistics (NBS) has revealed.
According to the data hardline inflation gained a marginal 0.19 per cent from the April rate, leaving it at 17.93 per cent. The NBS said the composite food index rose by 22.28 per cent in May compared to 22.72 per cent in April, indicating a 0.44 percent decrease.
In its “National Household Kerosene Price Watch – May 2021”, Kerosene also soared by 9.03 per cent on-year-on-year basis to N363.50 in the period under review from N362.68 in April 2021.
NBS said: “Average price per litre paid by consumers for National Household Kerosene increased by 0.23% month-on-month and by 9.03% year-on-year to N363.50 in May 2021 from N362.68 in April 2021”.
According to NBS, States with the highest average price per litre of kerosene were Ebonyi (N477.08), Enugu (N464.44) and Taraba (N437.04).
It added that States with the lowest average price per litre of kerosene were Bayelsa (N251.11), Yobe (N298.15) and Abuja (N305.33).
The data said similarly, average price per gallon paid by consumers for National Household Kerosene increased by 3.34% month-on-month and by 4.94% year-on-year to N1,266.99 in May 2021 from N1,226.08 in April 2021.
States with the lowest average price per gallon of kerosene, said NBS, were Bayelsa (N1,027.50), Delta (N1,050.00) and Adamawa (N1,078.33).
The NBS noted that the States with the highest average price per gallon of kerosene were Plateau (N1,490.00), Kebbi (N1,475.00) and Niger (N1,447.50).
Similarly, the report said States with the lowest average price of premium motor spirit (petrol) were Gombe (N161.33), Borno (N162.27) and Zamfara (N162.31).
It added that the average price paid by consumers for premium motor spirit (petrol) increased by 29.61% year-on-year and month-on-month by 1.01% to N168.06 in May 2021 from N166.38 in April 2021.
The document said States with the “highest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Abuja (N4,825.00), Enugu (N4,754.55) and Plateau (N4,650.00).
States with the lowest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Jigawa (N1,726.86), Abuja (N1,808.20) and Lagos (N1,841.93).
“States with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Bauchi (N2,486.39), Borno (N2,393.87) and Adamawa (N2,392.62).
“States with the lowest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Kaduna (N3,736.07), Zamfara (N3,749.04) and Katsina (N3,856.31)”.