The average retail price of a liter of kerosene increased from N1,329 in January 2024 to N1,340 in February 2024, according to the National Bureau of Statistics, or NBS.
According to the bureau’s Petrol Price Watch for February 2024, which was made public in Abuja on Thursday, the price of N1,340 in February marked a 0.86 percent drop from the price in January.
According to the NBS, the average price of a liter of kerosene increased by 14.23% year over year, from N1, 173 in February 2023 to N1, 340 in February 2024.
According to the state profile analysis, Kaduna had the highest average price of N1,866 per litre of kerosene in February, followed by Niger at N1,710 and Benue at N1,769, according to the report.
“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 North-Central region had the highest average retail price per litre of kerosene, at N1,486, according to the bureau’s data, which was followed by the North-East region at N1,387.
According to the report, the South-South had the lowest average retail price of N1,231 per litre of kerosene.
According to the data, consumers spent an average of N4,880 per gallon for kerosene in February 2024, which is a 0.19 percent increase from the 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.
According to a state profile analysis, Bauchi, Kano, and Adamawa had the highest average retail prices for kerosene, at N5,910, N5,772, and N6,092, respectively, per gallon.
However, the research stated that Delta had the lowest price, at N4,025, followed by N4,250 in Abuja and N4,400 in Ondo.
The North-East, with an average price per gallon of N5,553, was found to be the highest zone for kerosene analysis, followed by the North-West with N5,072.
