Price Of Kerosene Shoots Up By 5.95%, 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
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The NBS disclosed the figures in its latest price watch report published on its website, and 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.
Meanwhile, on a year-on-year basis, this increased by 55.69% from N4,379.31 in September 2023.
Breakdown of kerosene price by states and zones
On state profile analysis, the highest average price per litre in September 2024 was 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 at N1,416.67, Borno at N1,477.83, and Ekiti at N1,635.00.
In addition, analysis by zone showed that the north Ccentral recorded the highest average retail price per litre of household kerosene with N2,194.05, followed by the northwest with N2,092.92. In contrast, the southeast 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, Nasarawa 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 northwest recorded the highest average retail price per gallon of household kerosene with N7,809.52, followed by the southeast with N7,700.19, while the north-central recorded the lowest with N6,092.77.
Cabal behind 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.
Oladapo Olatubosun, the association's president, disclosed this when they met the Senate Committee on Gas in the company of the group members.
Proofreading by Nkem Ikeke, journalist and copy editor at Legit.ng.
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