Kerosene price rise by 200 percent

The price of kerosene has risen by about 200 per cent in Lagos, Ogun states and other parts of the country largely due to the scarcity of Liquefied Petroleum Gas (cooking gas).

Though the official price of kerosene is N50 per litre, most marketers and retailers (with the exception of filling stations owned by Nigerian National Petroleum Corporation) have, before now, sold it at N100 per litre.

Checks by a correspondent on Friday, however, revealed that a litre of kerosene was being sold at N150, amounting to a 200 per cent increase over the official price of N50.

A five litre gallon of kerosene, which should be sold at N250 official price but was selling at N500, has now increased to N750, according to findings by our correspondent.

Vanguard