National Bureau of Statistics (NBS) has alerted that the average retail price per litre of household Dual Purpose Kerosene (DPK), popularly known as kerosene, rose by 98.76 per cent in July 2022 compared to July 2021.
NBS’s National Household Kerosene Price watch for July 2022, which was announced on Friday, August 19, 2022 in Abuja showed that between July 2021 and July 2022, its average retail price increased by 98.76 per cent from N397.34 to N789.5 per litre.
According to the report, the product witnessed a month-on-month increase of 3.68 per cent in July 2022, rising to N789.75 from N761.69 in June 2022.
Also, state profile analysis showed that Enugu State had the highest increase in the average price per litre of kerosene in July 2022, with N1003.68, followed by Ekiti and Osun state with N989.58 and N949.11 respectively.
Alternatively, Bayelsa State reported the lowest price at N643.06, followed by Benue State at N645.76 and Rivers State at N658.24 respectively.
Read Also: Oborevwori, Edevwie intensify media propaganda over Appeal Court on ruling
The study further revealed that on regional basis, the South West had the highest increase in average retail price per litre of kerosene with N900.90, followed by the South East with N892.40 and the North Central with N761.92, while the South-South recorded the lowest with N727.07.
It also showed that consumers paid an average retail price of N2,886.41 for a gallon of domestic kerosene in July 2022 an increase of 7.98 per cent from N2,673.04 in June 2022, adding that the increase from N1,302.56 in July 2021was up 121.60 per cent, year-on-year.
State profile analysis disclosed that the Federal Capital Territory (FCT) Abuja, had the highest average increased in retail price for a gallon of household kerosene followed by Enugu State and Ekiti states at N3,500.75 and N3,450.00.
According to the survey, Borno and Gombe states came second and third with N2,500 and N2,430.57.
The South West had the highest average retail price per gallon of household kerosene with N3,186.93 according to an analysis by zone, followed by the South East and the North Central with N3,130.76 and N2,924.73, while the lowest average retail price per gallon was N2, 597.04 in the North East.
Similarly, the price watch of Liquefied Petroleum Gas (LPG), popularly known as cooking gas for July 2022 showed an increase of 105.35 per cent for 3.5kg of the commodity year-over-year.
