Kerosene prices have risen to N800 a litre, making life more difficult for many households who depend on it for their energy needs.
Kerosene used to cost N700 for a litre, but Tuesday’s assessments revealed that price has increased to N800–N850 in metropolitan areas of Lagos and N1,000 in the suburbs.
Kerosene, unlike gasoline, is a deregulated product, meaning that market forces decide its price.
The costs of household kerosene and liquefied petroleum gas have increased by 88% over the course of a year as of June, according to the Nigerian Bureau of Statistics, NBS.
The price of household kerosene increased by 86.94% in a year, according to the NBS data on “National Household Kerosene Price Watch.”
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The average retail price for a litre of household kerosene, or HHK, paid by customers in May 2022 grew by 15.21% month over month from N589.82 in April 2022 to N679.54 in May 2022, the study revealed.
In May 2022, Enugu had the highest average price per liter with N868.75, followed by Ebonyi with N861.11 and Imo with N801.67, according to the state profile study. Contrarily, Bayelsa had the lowest price at N558.06. Yobe came next with N601.39, while Nasarawa had N603.33.
Additionally, the North-East reported the lowest average retail price per litre of household kerosene at N632.06, while the South-East reported the highest average retail price at N773.09, followed by the South-West at N738.19 and the North-Central at N668.78.
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