By Milcah Tanimu
According to the National Bureau of Statistics (NBS), the average retail price of kerosene per litre rose from N1,329 in January 2024 to N1,340 in February 2024. This represents a 0.86% increase compared to the previous month.
The NBS released its Petrol Price Watch for February 2024, revealing that the average price of kerosene per litre also increased by 14.23% year-on-year, from N1,173 in February 2023 to N1,340 in February 2024.
State profile analysis indicated Kaduna had the highest average price per litre at N1,866, followed by Benue at N1,769 and Niger at N1,710. Conversely, Bayelsa had the lowest price at N971, followed by Rivers at N1,065 and Kwara at N1,070.
Regionally, the North-Central recorded the highest average retail price per litre at N1,486, while the South-South recorded the lowest at N1,231.
The report also highlighted that the average retail price per gallon of kerosene in February 2024 was N4,880, showing a 0.19% increase from N4,870 in January 2024. Year-on-year, the average price per gallon increased by 24.29%.
State profile analysis for gallon prices revealed Adamawa had the highest average retail price at N6,092, followed by Bauchi at N5,910 and Kano at N5,779. Conversely, Delta recorded the lowest price at N4,025, followed by Abuja and Ondo at N4,250 and N4,400, respectively.
Regionally, the North-East had the highest average price per gallon at N5,553, while the South-East had the lowest at N4,518.
The NBS report underscores the upward trend in kerosene prices, indicating challenges for consumers, particularly in certain regions and states across Nigeria.
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