- The average price of kerosene for October was N1,000 per litre, with some states selling higher
- In some states and zones in Nigeria, Kerosene sold for as much as N1,300 per litre during the period
- Also, depot owners have raised the price of petrol to N220 per litre, with marketers saying they can only sell the product for N330 per litre
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Nigerians are assaulted on all fronts by the astronomical cost of living caused by rising energy costs which threaten to cripple households and erode incomes.
According to the National Bureau of Statistics (NBS), the average retail price of household kerosene consumers paid in October was N1,041.05 per litre.
Zones with highest, cheapest kerosene prices
In its report titled 'National Household Kerosene Price Watch" for October, the nation's statistics body said the increase was 9.90 percent over the N947.30 per litre recorded in September this year.
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The News Agency of Nigeria (NAN) said on state profile analysis showed that the average price per litre of the product in October 2022 was recorded in Cross River at N1,304.18, followed by Enugu at N1,300 and Lagos at N1,2944.44 per litre.
The NBS report by zone states that the South East saw the highest average retail price per litre of Kerosene at N1,292.14, followed by South West at N1,142.60 with Lagos recording the highest price per litre of kerosene.
The North East recorded the lowest average kerosene retail price per liter at N905.18.
The average retail price per gallon of kerosene paid by Nigerian consumers in October 2022 was N3,516.87, an 8.67 per cent increase from N3.236.27 recorded in September 2022.
"On a year-on-year basis, the average price per gallon of kerosene increased by 126.46 per cent from N1,552.96 recorded in October 2021."
Petrol price rise, marketers insist on N330 per litre
Meanwhile, the pump price of petrol has risen to N220 per litre, according to depot owners.
Petrol marketers project that the price could hit N400 per litre at most filling stations before the end of 2022.
The Punch report states that the increase will represent about a 100 per cent increase in the pump price over the period under review.
Depots sell N220/litre, marketers project N350/litre pump price
The increase will represent over a 100 per cent increase in the pump price over the period.
Petrol dealers said if the scarcity of the product persists, it could continue to rise as the price is already N450 per litre on the black market.
NNPC to sell petrol at N400 per litre without subsidy as FG allegedly hiked price secretly
Recall that Legit.ng reported that the Federal Government allegedly allowed depot owners to hike the price of petrol to N185 per litre instead of the approved N147 by the National Petroleum Company of Nigeria (NNPC).
This development follows a finding that the lowest the NNPC can sell petrol without subsidy is N400 per litre.
Oil marketers disclosed this on Sunday, November 27, 2022, and gave reasons for the protracted petrol scarcity, which has seen queues forming at filling stations nationwide.