Price of kerosene falls 7.9%, diesel drops marginally

The average price paid by consumer for National Household Kerosene (NHK) fell to N400.01 per litre this week.

This represents a 7.9 percent decline when compared to N434.39 per litre recorded in September ending of this year.

Similarly, prices paid by consumers per litre of Automotive Gas Oil (diesel) fell by 0.16 per cent this week to N254.21 from N254.64 as of September ending 2021.
According to data from globalpetrolprices.com, as of this week the price per gallon of kerosene stood at N1,514.20 while price per gallon of Diesel stood at N962.29.

When compared to data from National Bureau of Statistics (NBS) NKH and Diesel watch for September, prices paid per gallon of NKH fell by 1.73 percent.

The NBS September report stated: “Average price per liter paid by consumers for National Household Kerosene increased by 8.6 per cent month-on-month (MoM) and by 24.8 per cent year-on-year (YoY) to N434.39 in September 2021 from N400.01 in August 2021.

“Similarly, average price per gallon paid by consumers for National Household Kerosene increased by 16.25 per cent MoM and by 25.3 YoY to N1, 540.82 in September 2021 from N1, 325.39 in August 2021.

“States with the highest average price per gallon of kerosene were Abuja (N2, 766.67), Bauchi (N1, 981.54) and Adamawa (N1,975.00).

“States with the lowest average price per gallon of kerosene were Delta (N1218.13), Imo (N1991.23) and Yobe (N1,080.00).”

On diesel, the NBS said: “Average price paid by consumers for Automotive Gas Oil (diesel) increased by 0.17 per cent MoM and by 15.9 per cent YoY to N254.64 in September 2021 from N254.21 in August 2021.”

[Vanguard]

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