Consumers spent more on diesel, kerosene in January

The National Bureau of Statistics, NBS, said the average price paid by consumers for automotive gas oil (diesel) and kerosene increased by 1.59% per litre, month-on-month and 5.27% year-on-year to N225.09 in January 2019 from to N221.56 in December 2018 for the former, while kerosene consumers paid an increase of 5.35% month-on-month and 6.03% year-on-year in January 2019 from N290.74 in December 2018.

According to the NBS, the average price per gallon paid by consumers for National Household Kerosene increased by 2.71% month-on-month and 15.90% year-on-year to N1187.75 in January 2019 from N1156.41 in December 2018.

For instance, in Lagos, average price of diesel remained at N235 per litre while that of kerosene hovered around N250 per litre.

The NBS named states with the highest average price of diesel to include Kwara (N249.00), Borno (N243.67) and Ebonyi (N239.29). It said states with the lowest average price of diesel were Adamawa (N197.50), Rivers (N201.86) and Ekiti (N203.57).

However, the NBS said the average price for the refilling of a 12.5kg cylinder for cooking gas decreased from N4,332.06 in December 2018 to N4,277.86 in January. It said the price decreased by -1.25 per cent month-on-month and -1.16 per cent year-on-year in the period under review.

The detention of ‘MT Navigator Capricorn,’ the only vessel that supplies cooking gas to Nigeria’s domestic market by Nigerian Maritime Administration and Safety Agency (NIMASA) over alleged violation of the Cabotage Act, could have created supply crisis, and possible hike in the price of the product, but for the timely resolution of issues.

NIMASA said it had commenced clampdown on vessels that do not comply with the provisions of the Cabotage Compliance Strategy introduced last year, to ease the implementation of the Cabotage Act of 2003.

The vessel, which brought 13,000 metric tonnes of LPG to Lagos from NLNG’s Bonny Island plant in Rivers State, was detained for about 10 days by NIMASA at the NOJ Jetty at Apapa after it had discharged its product.

The NBS said the price of refilling a five kg cylinder of cooking gas decreased by -0.63 per cent month-on-month and -6.86 per cent year-on-year in the period under review.

According to the bureau, states with the highest average price for the refilling of a five kg cylinder for cooking gas were: Bauchi (N2,540.00), Adamawa; Cross River (N2,350.00) and Borno (N2,325.00).

It said that states with the lowest average price for the refilling of a five kg cylinder for cooking gas: were Osun (N1,703.57), Ogun (N1,700.00) and Enugu (N1,672.22).

Similarly, the NBS report reviewed states with the highest average price of premium motor spirit (petrol) to include Oyo (N150.50), Benue (N150.09) & Taraba (N150.00). It also named Abuja (N144.20), Ekiti (N144.00) & Ondo (N144.00) as states with the lowest average price of premium motor spirit (petrol).

According to the report, the average price paid by consumers for automotive gas oil (diesel) increased by 1.59% month-on-month and 5.27% year-on-year to N225.09 in January 2019 from to N221.56 in December 2018. It said states with the highest average price of diesel were Kwara (N249.00), Borno (N243.67) and Ebonyi (N239.29). It said the states with the lowest average price of diesel were Adamawa (N197.50), Rivers (N201.86) and Ekiti (N203.57).

On National Household kerosene, the report noted that average price per litre paid by consumers for National Household Kerosene increased by 5.35% month-on-month and 6.03% year-on-year to N306.28 in January 2019 from N290.74 in December 2018.