Kerosene Price Soared To ₦1,340 Per Litre In February, Says NBS

The National Bureau of Statistics (NBS) reported a 0.86% increase in the average retail price of kerosene from January to February 202.
Kaduna had the highest average price per litre of kerosene in February, while Bayelsa had the lowest.
Analysis by zone showed that the North-East recorded the highest average price per gallon of kerosene at N5,553, followed by the North-West at N5,072.

Eko Hot Blog reports that according to the National Bureau of Statistics (NBS), the average retail price of a litre of kerosene rose from N1,329 in January 2024 to N1,340 in February 2024.

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The bureau said this in its Petrol Price Watch for February 2024, released in Abuja on Thursday.

It is said the February price of N1,340 signifies a 0.86% rise compared to January’s figures.

The Bureau also noted a 14.23% year-on-year increase in the average price per litre of kerosene, from N1,173 in February 2023 to N1,340 in February 2024.

On state profile analysis, the report showed that Kaduna recorded the highest average price of N1,866 per litre of kerosene in February, followed by Benue at N1,769 and Niger at N1,710.

“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 report read.

The NBS said the analysis further showed that the North-Central recorded the highest average retail price per litre at N1,486, followed by the North-East at N1,387.

The South-South region registered the lowest average retail price per litre of kerosene, standing at N1,231.

The report said the average retail price per gallon of kerosene paid by consumers in February 2024 was N4,880, indicating a 0.19 per cent increase from 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.

In the analysis of state profiles, Adamawa registered the highest average retail price for kerosene at N6,092 per gallon, with Bauchi following closely at N5,910, and Kano at N5,779.

Conversely, the report indicated that Delta had the lowest price recorded at N4,025, trailed by Abuja and Ondo at N4,250 and N4,400, respectively.