Kerosene price hits N1,340 – NBS

The National Bureau of Statistics, NBS, has said the average retail price of a litre of kerosene rose from N1,329 recorded in January 2024 to N1,340 in February 2024.

In its Petrol Price Watch for February 2024, released in Abuja on Thursday, the bureau said the February price of N1,340 represented a 0.86 percent decrease compared to what was obtained in January.

The NBS said the average price per litre of Kerosene rose on a year-on-year basis by 14.23 per cent from N1,,173 recorded in February 2023 to N1, 340 in February 2024.

On state profile analysis, the report revealed that Kaduna recorded the highest average price of N1,866 per litre of Kerosene in February, followed by Benue at N1,769 and Niger at N1,710.

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“On the other hand, the lowest price was recorded in Bayelsa at N971.00, followed by Rivers at N1,065 and Kwara at N1,070.”

The bureau said the analysis further showed that the North-Central recorded the highest average retail price per litre of Kerosene at N1,486, followed by the North-East at N1,387.

It said the South-South recorded the lowest average retail price per litre of kerosene at N1,231.

The report showed that the average retail price per gallon of Kerosene paid by consumers in February 2024, was N4,880, indicating a 0.19 per cent increase from N4,870 recorded in January 2024.

“On a year-on-year basis, the average price per gallon of kerosene increased by 24.29 per cent from N3,926 recorded in February 2023.

On state profile analysis, it showed that Adamawa recorded the highest average retail price at N6,092 per gallon of Kerosene, followed by Bauchi at N5,910 and Kano at N5,779.

On the other hand, the report said Delta recorded the lowest price at N4,025, followed by Abuja and Ondo at N4,250 and N4,400, respectively.

Analysis by zone showed that the North-East recorded the highest average price per gallon of Kerosene at N5,553, followed by the North- West at N5,072.