Price of kerosene shoots up to N1,769.86 per litre in July – NBS

By Kazeem Ugbodaga

The National Bureau of Statistics (NBS) says the retail price per litre of Household Kerosene (HHK) paid by consumers in July 2024 was N1,769.86.

The NBS in its July report said this showed an increase of 13.81% compared to N1,555.11 recorded in June 2024.

“On a year on-year basis, the average retail price per litre of the product rose by 40.37% from N1,260.81 in July 2023. On state profile analysis, the highest average price per litre in July 2024 was recorded in Akwa-Ibom with N2,383.33, followed by Oyo with N2,375.00 and Delta with N2,309.52.

“On the other hand, the lowest price was recorded in Adamawa with N1,171.11, followed by Taraba with N1,191.30 and Bor no with N1,381.58,” the bureau said.

In addition, the NBS said analysis by zone showed that the South-South recorded the highest average retail price per litre of Household Kerosene with N2,086.61, followed by the South-West with N2,051.27, while the North-East recorded the lowest with N1,411.97.

“The average retail price per gallon of Household Kerosene paid by consumers in July 2024 was N5,762.10 indicating an increase of 1.11% from N5,698.68 in June 2024. On a year-on-year basis, this increased by 33.81% from N4,306.07 in July 2023.

“On state profile analysis, Jigawa recorded the highest average retail price per gallon of Household Kerosene with N7,250.00, followed by Taraba with N7,218.27 and Kebbi with N7,158.33 On the oth er hand, Rivers recorded the lowest price with N4,234.62, followed by Delta and Bayelsa with N4,500.00 and N4,800.00 respectively.

“Analysis by zone showed that the North-West recorded the highest average retail price per gallon of Household Kerosene with N6,742.41, followed by the North East with N6,174.76, while the North Central recorded the lowest with N4,988.61,” NBS stated.