The National Bureau of Statistics (NBS) has reported a significant rise in the prices of cooking gas and kerosene across Nigeria for September 2024. This development has placed additional financial strain on households and businesses, as the cost of essential fuels continues to soar.
Cooking Gas Prices Increase by 4.19% in One Month
According to the NBS report, the average price for refilling a 5kg cooking gas cylinder jumped to ₦6,699.63 in September, reflecting a 4.19% increase from ₦6,430.02 recorded in August. The year-on-year comparison shows an even steeper rise of 59.90%, with prices increasing from ₦4,189.96 in September 2023. Rivers State recorded the highest average price at ₦7,285.71, followed by Gombe and Borno.
12.5kg Gas Cylinder Sees a 4.89% Monthly Hike
Refilling a 12.5kg cooking gas cylinder has also surged, with the average price climbing by 4.89% from ₦15,552.56 in August to ₦16,313.43 in September. On a yearly basis, this represents a significant 76.41% increase from ₦9,247.40 in September 2023. Rivers State again topped the list for the highest prices, while Adamawa recorded the lowest price for the 12.5kg cylinder.
Kerosene Prices Continue to Rise
The NBS report also revealed that the average price per litre of kerosene increased to ₦1,957.44 in September, marking a considerable rise compared to last year’s price of ₦1,299.03. Abuja recorded the highest average price per litre at ₦2,816.67, while Bayelsa posted the lowest price. This continuous upward trend in kerosene prices has heightened the challenges faced by many Nigerians who rely on the fuel for domestic use.
Gallons of Kerosene Now Cost Over ₦6,800
For those purchasing kerosene by the gallon, the average price reached ₦6,818.1 in September, a 5.84% increase from ₦6,441.94 in August. Katsina led the way with the highest price per gallon at ₦8,400, while Nasarawa recorded the lowest at ₦5,250.00. The sharp increase in kerosene prices is another contributing factor to the growing cost of living in Nigeria.
Inflation Adds to Consumer Hardship
The rise in fuel prices comes amidst reports that Nigeria’s inflation rate in September 2024 climbed to 32.70%, up from 32.15% in August. As fuel prices soar and inflation worsens, Nigerians are feeling the effects on their day-to-day expenses, including transportation and cooking.
Petrol Prices Also Increase Nationwide
Adding to the financial burden, the Nigerian National Petroleum Company Limited (NNPCL) recently increased the pump price of petrol at its retail outlets. The price now ranges from ₦1,030 and higher, depending on location. With both fuel and food costs rising, Nigerians are bracing for further economic challenges.
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