Energy crisis worsens as cost of cooking gas, others escalate in July

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BY BAMIDELE FAMOOFO

Uba Group

Rising inflation in the energy sector is making life more difficult for Nigerians as data released by the National Bureau of Statistics at the weekend showed that cooking gas, diesel and kerosene recorded price increases in July.

According to NBS, the average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 4.25 percent on a month-on-month basis from N4, 218.38 recorded in June 2022 to N4, 397.68 in July 2022.

On a year-on-year basis, this rose by 105.35 percent from N2, 141.59 in July 2021.

The average retail price per litre of Household Kerosene (HHK) paid by consumers in July 2022 was N789.75, indicating an increase of 3.68 percent compared to N761.69 recorded in June 2022.

On a year-on-year basis, the average retail price per litre of the product rose by 98.76 percent from N397.34 in July 2021 while average retail price of Automotive Gas Oil (Diesel) paid by consumers in July 2022 was N774.38 per litre, an increase of 208.74 percent from N250.82 per litre recorded in the corresponding month of the previous year.

On a month-on-month basis, this increased by 5.53 percent from N733.78 per litre reported in June 2022.

On state profile analysis, Adamawa recorded the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N4,966.67, followed by Plateau with N4,650.00, followed by Kwara and Gombe with N4,625.00 each. On the other hand, Kano recorded the lowest price with N3, 981.25, followed by Yobe and Bauchi with N4, 000.00 and N4, 071.03 respectively.

In addition, analysis by zone showed that the North-Central recorded the highest average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N4,552.62, followed by the North-East with N4,456.88, while the North-West recorded the lowest with N4,218.27.

The highest average price of Kerosene per litre in July 2022 was recorded in Enugu with N1,003.68, followed by Ekiti with N989.58 and Osun with N949.12.

On the other hand, the lowest price was recorded in Bayelsa with N643.06, followed by Benue with N654.76 and Rivers with N655.24. In addition, analysis by zone showed that the South-West recorded the highest average retail price per litre of Household Kerosene with N900.90, followed by the South-East with N892.40 and North-Central with N761.92, while the South-South recorded the lowest with N727.07.

The average retail price per gallon of Household Kerosene paid by consumers in July 2022 was N2, 886.41, showing an increase of 7.98 percent from N2, 673.04 in June 2022. On a year-on-year basis, this increased by 121.60 percent from N1, 302.56 in July 2021. On state profile analysis, Abuja recorded the highest average retail price per gallon of Household Kerosene with N3, 600.00, followed by Enugu with N3, 500.75 and Ekiti with N3, 450.00. On the other hand, Zamfara recorded the lowest price with N2, 430.57, followed by Borno and Gombe with N2, 500.00 and N2, 530.00 respectively.

Analysis by zone showed that the South-West recorded the highest average retail price per gallon of Household Kerosene with N3, 186.93, followed by the South-East and North-Central with N3, 130.76 and N2, 924.73 respectively, while the North-East recorded the lowest with N2, 597.04.

The highest price of Diesel was recorded in Plateau with N866.00, followed by Oyo with N860.00, and Ebonyi with N851.43.

On the other hand, the lowest price was recorded in Yobe with N686.67, followed by Katsina with N695.00 and Gombe with N722.00.

Furthermore, analysis by zone showed that the South-East had the highest price with N802.89, while the North-East recorded the lowest price with N747.72.