Southern residents pay more for kerosene, as price rises by 136.04%

The average retail price per litre of kerosine rose by 136.04 per cent year-on-year basis in Nigeria, the National Household Kerosene Price Watch report disclosed.

According to the Kerosene data obtained from the National Bureau of Statistics (NBS) on Friday, the average retail price per litre of kerosene closed December 2022 with N1,104.61.

This means Nigerians paid more for kerosene last year, as the product mostly used by the lower class rose well above the N467.97 reported in December 2021.

However, the cost of kerosene differed from region to region, with South-East residents paying the highest average price of N1,203.95/litre.

According to the NBS report, the South-West paid an average price of N1,177.89 per litre, while the South-South was N1,087.15.

Read also:Ebonyi, Benue lead as Nigerians pay more for cooking gas, Kerosene in December

In the Northern part of Nigeria, kerosene was cheaper, with the North Central price per litre put at N1,095.17, the North-East price was N1,085.65, and North-West was N1,011.49.

The report also highlighted the cost per gallon of kerosene, with the highest reported in the Southern part, as the average cost of a gallon in the South-East put at N4,337.32.

In the South-West, the average gallon price was N3,751.05 and N3,429.82 in the South-South. It was lower in the North-Central where the product was sold at N3,967.97 per gallon, N3,378.69 in the North-East and N3,722.18 in the North-West,

Impact of the rise in Kerosene price

Regardless of the price difference across regions, the rise in kerosene price will further raise the cost of living, compelling lower-income families to resort to a cheaper alternative such as coal, which is mostly used by the 133 million Nigerians living under the poverty line, to cook their meals.

While the increase in kerosene will affect the purchasing power of Nigerians at a time the naira is losing its value, it will also contribute to carbon emissions.

The increase in coal usage will lead to a hike in fossil fuels in Nigeria, worsening the country’s climate change.

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