According to the latest report from the National Bureau of Statistics (NBS), the average retail price of a liter of kerosene rose from N1,329 in January 2024 to N1,340 in February 2024.
This marks a slight increase of 0.86% compared to the previous month.
Year-on-year, there was a notable increase in the average price per litre of kerosene, rising by 14.23% from N1,173 in February 2023 to N1,340 in February 2024.
The state-wise analysis revealed Kaduna as having the highest average price per litre at N1,866, followed by Benue at N1,769, and Niger at N1,710.
Conversely, Bayelsa had the lowest recorded price at N971, trailed by Rivers at N1,065, and Kwara at N1,070.
Regionally, the North-Central recorded the highest average retail price per litre of kerosene at N1,486, followed by the North-East at N1,387, while the South-South recorded the lowest at N1,231.
In terms of gallons, the average retail price of kerosene paid by consumers in February 2024 was N4,880, showing a marginal increase of 0.19% from N4,870 in January 2024.
Every year, there was a significant surge of 24.29% from N3,926 in February 2023.
State-wise, Adamawa had the highest average retail price per gallon at N6,092, followed by Bauchi at N5,910, and Kano at N5,779.
Conversely, Delta recorded the lowest price at N4,025, followed by Abuja and Ondo at N4,250 and N4,400, respectively.
Analyzing by zone, the North-East recorded the highest average price per gallon of kerosene at N5,553, followed by the North-West at N5,072, with the South-East recording the lowest at N4,518.
