Economy
Anxiety As Report Reveals How Price Of Kerosene Increased By 9.90%
The price of Kerosene has increased by 9.90 percent between September and October 2022.
EKO HOT BLOG reports that the National Bureau of Statistics (NBS) disclosed that consumers’ average retail price of household kerosene increased by 9.90 percent.
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The report revealed that the average price of kerosene in October was increased to N1, 041.05 per litre.
This was contained in the National Household Kerosene Price Watch for October 2022.
It was revealed that the average price was a 9.90 percent increase over the N947.30 per litre recorded in September 2022.
“On a year-on-year basis, the average retail price per litre of the product increased by 145.87 percent from N423.42 recorded in October 2021.”
The report showed that the highest average price per litre of kerosene in October 2022 was recorded in Cross River at N1,304.17, followed by Enugu at N1,300.00 and Lagos at N1,294.44.
On a similar state profile analysis, it said the lowest price was recorded in Borno at N783.33, followed by Rivers at N804.17 and Bayelsa at N805.67.
The NBS said that analysis by zone showed that the South-East recorded the highest average retail price per litre of Kerosene at N1,191.14, followed by the South-West at N1,142.60.
It said the Northeast recorded the lowest average retail price per litre of kerosene at N905.18.
“On a year-on-year basis, the average price per gallon of kerosene increased by 126.46 percent from N1,552.96 recorded in October 2021.”
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The report said the average retail price per gallon of kerosene paid by consumers in October 2022 was N3,516.87, indicating an 8.67 percent increase from N3,236.27 recorded in September 2022.
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