April 21, 2024

Kerosene price climbs to N1,340 per litre in February


Adebayo Obajemu

The average retail price for kerosene jumped from N1,329 per litre in January this year to N1,340 in February, according to the National Bureau of Statistics,( NBS,) report.

NBS revealed this in its National Household Kerosene Price Watch for February 2024, released on Thursday in Abuja.

According to the report, the N1,340 price in February stood for a 0.86 percent increase when compared to the price in January.

On a year-on-year basis, the average price per litre of kerosene increased by 14.23 per cent from N1,173 recorded in February 2023 to N1,340 in February 2024.

Analysing its data on state by state basis, the NBS maintained that Kaduna State recorded the highest average price of N1,866 per litre of kerosene in February, trailed by Benue and Niger states with N1,769 and N1,710 respectively.

The report, published on the agency’s website, reads: “The average retail price per litre of Household Kerosene (HHK) paid by consumers in February 2023 was N1,173.89, indicating an increase of 1.78% compared to N1,153.40 recorded in January 2023.

“On a year-on-year basis, the average retail price per litre of the product rose by 160.48% from N450.66 in February 2022.

“On state profile analysis, the highest average price per litre in February 2023 was recorded in Plateau with N1,550.00, followed by Abuja with N1,473.33 and Adamawa with N1,438.10.

“On the other hand, the lowest price was recorded in Nassarawa with N923.81, followed by Katsina with N945.83 and Sokoto with N956.94.
“In addition, analysis by zone showed that the South-West recorded the highest average retail price per litre of Household Kerosene with N1,259.96, followed by the South-East with N1,255.12, while the North-West recorded the lowest with N976.24.
“The average retail price per gallon of Household Kerosene paid by consumers in February 2023 was N3,926.23, showing an increase of 1.03% from N3,886.11 in January 2023. On a year-on-year basis, this increased by 151.72% from N1,559.78 in February 2022.”

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