Connect with us

Business

Cooking Gas Price Increases By 86.62% In One Year – NBS

Published

on

The average price of 5kg of cooking gas increased from N4,456.56 in August to N4,474.48 in September, the National Bureau of Statistics (NBS) has stated.

It stated in its “Cooking Gas Price Watch’’ for September 2022 released on Saturday in Abuja that the September price was a 0.40 per cent increase over what obtained in August.

Advertisement

“On a year-on-year basis, the September 2022 price of N4,474.48 for 5Kg of gas was an 86.62 per cent increase over the price of N2,397.60 obtainable for the same volume in September 2021″, it stated.

On states profile analyses, the report stated that Kwara recorded the highest average price of N4,950 for 5kg of cooking gas, followed by Niger at N4,941.67, and Adamawa at N4,928.29.

READ ALSO: Cooking Gas Demand Falls By 38%, Marketers Clash Over Price

Advertisement

It added that Abia recorded the lowest price at N4,044.44, followed by Anambra and Kano State at N4,100.00 and N4,109.67, respectively.

Analyses by geopolitical zones showed that the North-Central recorded the highest average retail price of N4,715.74, for 5kg cooking gas, followed by the Northeast at N4,539.41.

The South-South recorded the lowest retail price at N4,317.92,” the NBS stated.

Advertisement

It also reported that the average retail price for refilling a 12.5kg cooking gas cylinder increased from N9,899.34 in August 2022 to N9,906.44 in September, indicating a 0.07 per cent increase on a month-on-month basis.

On a year-on-year basis, the price rose by 60.69 per cent from N6,164.97 in September 2021 to the corresponding period in September 2022.

On states analyses, the report indicated that Cross River recorded the highest average retail price for 12.5kg cooking gas at N10,937.50, followed by Kogi at N10,760 and Oyo at N10,723.75.

Advertisement

The lowest average price was recorded in Yobe at N8,350, followed by Katsina and Taraba at N8,545.56 and N9,025.78, respectively, the NBS stated.

Similarly, kerosene price rose to N947.30 per litre in September, showing a 17.2 per cent increase over the N809.52 for which it was sold in August 2022.

According to its “National Kerosene Price Watch’’, on a year-on-year basis, average retail price per litre rose by 118.08 per cent from N434.39 recorded in September 2021 to N947.30 in September 2022.

Advertisement

Further analysis showed that the highest average price per litre of kerosene in September 2022 was recorded in Enugu State at N1,272.50, followed by Ebonyi at N1,263.89 and Cross River at N1,187.50.

The report showed that the lowest price was recorded in Rivers at N686.27, followed by Bayelsa at N715.15 and Nasarawa at N735.29.

Analysis by zone showed that the Southeast recorded the highest average retail price per litre of kerosene at N1,128.28, followed by the Southwest at N1,068.18.

Advertisement

The Northwest recorded the lowest average retail price at N868.89 per litre of kerosene,’’ the NBS stated.

It added that the average retail price per gallon of kerosene in September 2022 was N3,236.27, showing an increase of 9.79 per cent over the N2,947.65 recorded in August.

According to the report, on a year-on-year basis, the price increased by 110.04 per cent from N1,540.82 recorded in September 2021 to N3,236.27 that was recorded in September 2022.

Advertisement

READ ALSO: Cooking Gas Price Jumps By 240% As Marketers Halt Imports

Analyses by states showed that Abuja recorded the highest price per gallon of kerosene at N4,200.00, followed by Abia at N4,078.57 and Enugu State at N4,052.38.

The NBS stated that Borno recorded the lowest price at N2,500 followed by Zamfara and Delta with N2,555.56 and N2,576.92, respectively.

Advertisement

It added that analyses by zone showed that the Southeast recorded the highest average retail price per gallon of kerosene at N3,607.38 followed by the Southwest at N3,468.42

It stated also that the Northeast recorded the lowest price of N2,803.96 for a gallon of kerosene in September 2022.
NAN

Advertisement

Business

NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment

Published

on

The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday, according to DAILY POST.

It was confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945.

Advertisement

This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza, Central Area, Wuse Zone 4, Wuse Zone 6, and other of its filling stations in the nation’s capital.

READ ALSO:N5bn Damage: NNPCL Secures Appeal Court Victory Against Ararume

The latest downward review of fuel price in NNPCL outlets represents an N55 reduction in fuel pump price.

Advertisement

It was reduced to N890 per litre this afternoon, down from N945,” an NNPCL fuel attendant told DAILY POST anonymously on Thursday.

This comes a Nigerian filling station, MRS Empire Energy, on Thursday adjusted their fuel pump price to N885 and N946 per litre, down from N910 and N955 per litre.

The latest fuel price reduction trend is unconnected to Dangote Refinery’s ex-depot petrol price adjustment by N30 to N820 per litre from N850 and the price of crude oil in the international market.

Advertisement

 

Advertisement
Continue Reading

Business

Dangote Refinery Reduces Fuel Price

Published

on

Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly known as petrol, by N30, from N850 to N820 per litre, effective from August 12, 2025.

This was disclosed in a statement by the company’s spokesman, Anthony Chijiena, on Tuesday.

Advertisement

The 650,000-barrel-per-day plant said the move is part of its unwavering commitment to national development, assuring the public of a consistent and uninterrupted supply of petroleum products.

READ ALSO:Dangote Refinery Gets New CEO

In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 CNG-powered trucks for fuel distribution across Nigeria, effective August 15, 2025,” said Chijiena.

Advertisement

The announcement comes as the refinery prepares to commence direct fuel distribution nationwide. The development is expected to lead petroleum product marketers to reduce their pump prices in the coming days.

In Abuja, the retail fuel price stood between N885 and N970 per litre as of Tuesday evening.

Advertisement
Continue Reading

Business

Indian Refiners Abandon Russia For Nigerian Crude, As Dangote Refinery Relies On US

Published

on

India Refineries have abandoned Russian crude for Nigerian crude, while domestic refiner Dangote Refinery relies heavily on West Texas Intermediate crude from the United States of America.

This followed a recent sanction threat by US president Donald Trump on India over continued patronage of Russian crude.

Advertisement

According to Reuters, industry sources said that Indian Oil Corporation recently bought one million barrels of Nigeria’s Agbami crude for September 2025 delivery in a tender awarded to global trader Trafigura.

Also included are one million barrels of Angola Girassol, one million barrels of US Mars, three million barrels of Abu Dhabi Murban, and two million barrels of Nigerian oil, according to Reuters.

READ ALSO:‘My Eyes Dey Your Body’: Drama As Portable Professes Love For Regina Daniels

Advertisement

The report noted that the purchase is part of a broader sourcing spree that has seen Indian refiners secure millions of barrels from non-Russian sources post July 2025.

Meanwhile, Indian refiners secured purchases of Nigerian crude grades; the $20bn Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, is relying on around 60 percent on US and other imoorts to feed its processing units.

Data showed that the refinery imported an average of 10 million barrels in July 2025, saying it was increasingly relying on the US for its feedstock despite the naira-for-crude deal with the Federal Government, which kicked off in October last year.

Advertisement

According to Reuters, the Indian Oil Corp and Bharat Petroleum have bought a million barrels of non-Russian crude billed for delivery in September and October after the US pressured India to halt purchases from Russia.

READ ALSO:

Indian state refiners had been largely absent from the Nigerian crude market spotlight since 2022; they have in the past concentrated on Russian crude amid the Russian-Ukrainian war. However, the Indian refiners paused Russian purchases in late July 2025 after pressure from US President Donald Trump.

Advertisement

On the part of Dangote Refinery, data from commodities analytics firm Kpler showed that in July, US barrels accounted for about 60 percent of Dangote’s 590,000 barrels per day of crude intake, with Nigerian grades making up the remaining 40 percent.

In July, the Dangote refinery’s crude imports surged to a record 590 kbd—driven largely by US barrels overtaking Nigerian supply for the first time—amid ongoing domestic sourcing challenges, Kpler reports.

“While WTI has held a significant share in Dangote’s import slate since March, this is the first time US crude has overtaken Nigerian supply—a shift driven by several factors,” Kpler stated.

Advertisement

 

Advertisement
Continue Reading

Trending