Kerosene Price Increases Again, NBS Lists 10 Most Expensive States To Buy

• The NBS has revealed that the prices of Kerosene have once again increased, adding more burden to Nigerian households
• In its latest report, the bureau stated that both the price of a gallon and a litre of kerosene increased month on month and year on year
• The highest average price was recorded in Abuja, Kaduna and Akwa Ibom, while the lowest price was recorded in Bayelsa and Borno

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 September 2024 was N1,957.4 per litre.

This is an increase of 5.95% compared to the N1,847.59 average price for a litre recorded in August 2024.

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On a year-on-year basis, the average retail price per litre of the product rose by 50.68% from N1,299.03 in September 2023

The NBS disclosed the figures in its latest price watch report published on its website, obtained by Legit.ng.

The report also showed that the average retail price per gallon of household kerosene paid by consumers in September 2024 was N6,818.11, indicating an increase of 5.84% from N6,441.94 in August 2024.

While on a year-on-year basis, this increased by 55.69% from N4,379.31 in September 2023.

Breakdown of Kerosene price by states

On state profile analysis, the highest average price per litre in September 2024 was recorded in Abuja with N2,816.67, followed by Kaduna with N2,437.50 and Akwa Ibom with N2,411.11. Punch reports.

On the other hand, the lowest price was recorded in Bayelsa with N1,416.67, followed by Borno with N1,477.83 and Ekiti with N1,635.00.

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Breakdown of Kerosene price by zones

In addition, analysis by zone showed that the North Central recorded the highest average retail price per litre of Household Kerosene with N2,194.05, followed by the North-West with N2,092.92, while the South-East recorded the lowest with N1,718.89.

State breakdown by gallon

On state profile analysis, Katsina recorded the highest average retail price per gallon of Household Kerosene, N8,400.00, followed by Jigawa, N8,100.00, and Kebbi and Ogun, N8,000.00.

On the other hand, Nassarawa recorded the lowest price with N5,250.00, followed by Adamawa and Niger with N5,281.25 and N5,291.67 respectively.

Analysis by zone showed that the North-West recorded the highest average retail price per gallon of Household Kerosene with N7,809.52, followed by the South-East with N7,700.19, while the North-Central recorded the lowest with N6,092.77.

Marketers identify cabal behind the rising price of cooking gas

Legit.ng earlier reported that cooking gas marketers, under the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), have blamed Liquefied Petroleum Gas (LPG) terminal operators for the high cost of cooking gas in the country.

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Oladapo Olatubosun, the association's president, disclosed this when they met the Senate Committee on Gas in the company of the group members.

Source: Legit.ng