FRI 22 APRIL, 2022-theGBJournal | The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by a huge 129.10% from N235.41 in March 2021 to N539.32 the value recorded in March 2022, according latest data by the National Bureau of Statistics (NBS).
On month-on-month basis, the average retail price increased from N311.98 in February 2022 indicating a rise of 72.87% when compared to the average retail price paid in March 2022.
On state profile analysis, the state with the highest average price for Diesel in March 2022 was Ekiti with N672.14 followed by Lagos and Abia with N668.75 and N645.00 respectively. On the other hand, the state with the lowest average price was recorded in Bauchi with N408.00 followed by Borno with N432.00 and Yobe with N412.00.
In addition, zone analysis shows that the average price of Diesel was highest in South-West with N619.11 while North-East had the lowest price with N450.17.
Meanwhile, the average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) stood at N3778.30 in March 2022 from N3708.58 recorded in February 2022 showing an increase of 1.88 percent month-on-month.
On year on year basis however, the average retail price for Cooking Gas increased by 83.62 percent from N2057.71 in March 2021.
According to state profile analysis, the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) was recorded in Ekiti with N4200.00, followed by Niger with N4163.33 and Imo with N4150.00. On the other hand, Adamawa recorded the lowest average price with N2604.01 this was followed by Yobe and Kano with N2740.00 and N3300.00 respectively.
In addition, prices analyzed by zones shows that average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) was highest in the South-East with N3992.56 followed by South-West with N3900.55 and South-South with N 3877.08, while North-East recorded the lowest average retail price was the with N3419.37.
The average price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased to N7617.71 in March 2022 from N7447.79 in February 2022 representing a 2.28 percent month-on-month increase. Similarly, on year-on-year basis, the average retail price for refilling a 12.5kg cooking gas increased by 74.75 percent from N4359.23 in March 2021.
The state analysis showed that the highest average retail price for the refilling of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) was recorded in Osun with N8782.14, followed by Oyo with N8400.00 and Katsina, with N8300.00. Conversely, the lowest average price for the refilling of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) was recorded In Borno with N6100.00, followed by Akwa Ibom and Cross River with, N6840.91 and N6865.91 respectively.
The average retail price of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) by zones showed that average retail price was highest in the South-West with N7892.40 followed by the North-Central and North-West with N7657.22 and N7533.91 respectively. The South-South Zone recorded the lowest price with N7091.61.
The average retail price per litre of Household Kerosene (HHK) paid by consumers in March 2022 stood at N564.55 from N450.66 in February 2022, this shows an increase of 25.27 percent on monthon-month analysis. However, year-on-year comparison showed that the average price per litre increased by 56.26 percent from N361.29 in March 2021.
The state profile showed that the highest average price per litre in March 2022 was recorded was Ebonyi with N700.00 followed by Kaduna with N687.50 and Ekiti with N666.67. On the other hand, the state with the lowest average price per litre was Kano with N426.67, followed by Borno with N431.25 and Kebbi with N446.67.
Furthermore, the average retail price per litre of Household Kerosene by zone showed that SouthWest recorded the highest with N623.49 followed by South-East with N614.89 and South-South with N580.80, while the zone with the lowest average retail price was the North-West with N502.50.
The average price per gallon of Household Kerosene paid by consumers increased to N2011.70 in
March 2022 from N1559.78 in February 2022, indicating an increase in average retail price by 28.97 percent on month-on-month basis. However, the price per gallon of kerosene increased by 62.65 percent from N1236.86 in March, 2021.
State analysis shows that Jigawa state recorded the highest average retail price with N2265.38 followed by Ebonyi with N2200.00 and Anambra with N2185.00. Conversely, Kogi recorded the lowest price with N1690.59 followed by Abuja and Sokoto with N1800.00 and N1900.00, respectively.
In addition, the average retail price per gallon of Household Kerosene by zones shows that the average retail price was highest in the South-West with N2057.83 followed by South-East and North-West with N2063.35 and N2028.62 respectively while the North-Central Zone recorded the lowest average price with N 1975.56.
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