Petrol Increased To N626.21 In September- NBS

The National Bureau of Statistics (NBS), says the average retail price of a litre of petrol increased from N191.65 in September 2022 to N626.21 in September 2023. It made the declaration in its Petrol Price Watch for September 2023 released in Abuja on Saturday. It stated that the September 2023 price of N626.21 represented a 226.75 per cent increase over the price of N191.65 recorded in September 2022. “Comparing the average price value with the previous month of August 2023, the average retail price increased by 0.08 per cent from N626.70. “On state profiles analysis, Taraba paid the highest average retail price of N665.56 per litre, followed by Borno and Benue at N657.37 and N641.29, respectively. “Conversely, Rivers, Delta and Jigawa paid the lowest average retail prices at N602.55, N605.88 and N617.42, respectively,’’ it stated. Analysis by zones showed that the North-East recorded the highest average retail price in September 2023 at N638.33, while the South-South recorded the lowest at N618.47 per litre. The NBS also stated in its Diesel Price Watch Report for September 2023 that the average retail price was N890.80 per litre. It explained further that the September 2023 price of N890.80 per litre amounted to a 12.77 per cent increase over the N789.90 per litre paid in September 2022. “On a month-on-month basis, the price increased by 4.27 per cent from the N854.32 per litre recorded in August 2023,’’ it added. On state profile analysis, the report said the highest average price of diesel in September 2023 was recorded in Kano at N967.78 per litre, followed by Anambra at N950.95 per litre and Niger at N950.55 per litre. On the other hand, the lowest price was recorded in Bayelsa at N840.16 per litre followed by Katsina at N840.55 per litre and Rivers at N840.82 per litre. In addition, the analysis by zones showed that the South-East has the highest price at N918.06 per litre, while the South-South recorded the lowest price at N863.97 per litre. 

Average Price Of 5kg Cooking Gas Stood At N4,115.32 In August –NBS

The National Bureau of Statistics (NBS), says the average price of 5kg of cooking gas increased from N4,072.87 recorded in July to N4,115.32 in August 2023. This is contained in the Bureau’s “Cooking Gas Price Watch’’ for August 2023 released on Monday in Abuja. The report said the August 2023 price represented a 1.04 per cent increase, compared to what was obtained in July 2023. However, the average price of 5kg of cooking gas decreased on a year-on-year basis by 7.66 per cent from N4,456 recorded in August 2022 to N4,115.32 in August 2023. On state profile analysis, the report showed that Kwara recorded the highest average price at N4,816.67 for 5kg cooking gas, followed by Benue at N4,766.67, and Zamfara at N4,756.25. It said on the other hand, Ondo recorded the lowest price at N3,299.29, followed by Ekiti and Nasarawa at N3,330.00 and N3,533.33 respectively. Analysis by zone showed that the North-Central recorded the highest average retail price at N4,501.26, followed by the North-West at N4,340.50 “The South-West recorded the lowest retail price at N3,3737.12,” the NBS said. Also, the NBS said the average retail price for 12.5kg cooking gas increased by 0.35 per cent on a month-on-month basis, from N9,162.11 in July 2023 to N9,194.41 in August 2023. However, the report said the average price of 12.5kg cooking gas dropped by 7.12 per cent on a year-on-year basis, from N9,899.34 recorded in August 2022 to N9,194.41 in August 2023. On state profile analysis, it showed that Cross River recorded the highest average price at N10,172.83 for 12.5kg cooking gas, followed by Ogun at N9,963.64 and Nasarawa at N9,883.37. On the other hand, the report showed that Adamawa recorded the lowest price at N7,597.92, followed by Borno at N8,103.69 and Gombe at N8,173.44. Analysis by zone showed that the South-South recorded the highest average retail price at N9,569.58 for 12.5kg, followed by the South-West at N9,344.17. The report said the North-East recorded the lowest price at N8,631.95. Similarly, the average retail price per litre of Kerosene rose to N1,272.40 in August 2023 on a month-on-month basis, showing an increase of 0.92 per cent, compared to N1,260.81 recorded in July 2023. According to its National Kerosene Price Watch for August 2023, on a year-on-year basis, the average retail price per litre of kerosene rose by 57.18 per cent from N809.52 in August 2022. On state profile analysis, the report showed that Adamawa recorded the highest average price at N1,745.83 per litre of kerosene in August 2023, followed by Benue at N1,468.33 and Abuja at N1,486.89. “On the other hand, Jigawa recorded the lowest price at N1,000 followed by Edo at N1,104.78 and Kaduna at N1,121.79.” The NBS said the analysis further showed that the North-East recorded the highest average retail price per litre of kerosene at N1,370.64, followed by the South-East at N1,332.49. It said the North-West recorded the lowest average retail price per litre of kerosene at N1,163.25. The report said the average retail price per gallon of kerosene paid by consumers in August 2023 was N4,351.53, indicating a 1.06 per cent increase from N4,306.07 in July 2023. “On a year-on-year basis, the average price per gallon of kerosene increased by 47.63 per cent from N2,947.65 recorded in August 2022.” On state profile analysis, it showed that Lagos recorded the highest average price at N5,350.83 per gallon of kerosene, followed by Katsina at N4,991.85 and Borno at N4,897.47. On the other hand, the report said Delta recorded the lowest price at N2,945.71, followed by Rivers and Oyo at N3,287.50 and N3,711.79, respectively. Analysis by zone showed that the North-East recorded the highest average price per gallon of Kerosene at N4,637.71, followed by the South-East at N4,590.69. The report said the South-South recorded the lowest average price per gallon of Kerosene at N3,727.30.