Just Like Cooking Gas: Marketers Hike Kerosene Prices, 3 States Hit Hardest
- Dealers have increased Kerosene prices, leaving many Nigerian households with more challenging decisions to make
- The NBS report shows that both the price of a gallon and a litre of kerosene increased month on month and year on year
- The increase in kerosene prices was more felt in some states compared to the rest of the country
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The National Bureau of Statistics has revealed that the average retail price per litre of Household Kerosene (HHK) paid by consumers in August 2024 was N1,847.59.
This is an increase of 4.39% compared to N1,769.86 a litre of kerosene recorded in July 2024.
Source: Getty Images
On a year-on-year basis, the average retail price per litre of the product rose by 45.21% from N1,272.40 in August 2023.
The NBS disclosed the figures in its latest price watch report published on its website, obtained by Legit.ng.
Breakdown of Kerosene price by states
The report revealed that the highest average price per litre in August 2024 was recorded in Zamfara with N2,566.67, followed by Kano with N2,444.44 and Ogun with N2,388.89.
On the other hand, the lowest price was recorded in Taraba with N1,181.18, followed by Adamawa with N1,185.74 and Borno with N1,296.95.
Breakdown of Kerosene price by zones
In addition, analysis by zone showed that the North West recorded the highest average retail price per litre of Household Kerosene with N2,118.29, followed by the South-South with N2,075.45, while the North-East recorded the lowest with N1,454.38.
Kerosene price by gallon
The NBS also reported that in August 2024, the average retail price per gallon of household kerosene was N6,441.94.
This represents a 11.80% increase from N5,762.10 in July 2024. On a year-on-year basis, this increased by 48.04% from N4,351.53 in August 2023.
State breakdown by gallon
In the state profile analysis, Katsina recorded the highest average retail price per gallon of Household Kerosene, N8,200.00, followed by Kebbi, N8,075.00, and Kaduna, N8,038.46.
On the other hand, Nassarawa recorded the lowest price with N5,092.46, followed by Niger and Plateau with N5,104.17 and N5,445.83 respectively.
Analysis by zone showed that the North-West recorded the highest average retail price per gallon of Household Kero sene with N7,787.64, followed by the South-West with N6,593.22, while the North-Central recorded the lowest with N5,463.69.
Cooking gas prices
Legit.ng previously reported that the NBS revealed that the number of cooking gas refills in Nigeria has increased, and dealers are quoting new prices.
The reduction is compared to Nigerians paid last month for refilling a 5kg and 12.5kg cylinder.
Residents of Borno recorded the highest average price for refilling a 5kg cylinder, while the lowest price was recorded for 12.5kg in Kwara.
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Source: Legit.ng
