The National Bureau of Statistics (NBS) has revealed that the prices of household kerosene surged in August 2023 as consumers paid N1,272.40 per litre compared to N1,260.81 recorded in July 2023.

According to the Bureau, the increase indicated 0.92%, while it stated on a year-on-year basis, the average retail price per litre of the product rose by 57.18% from N809.52 in August 2022. 

In its analysis on the states that paid highest prices per litre, Adamawa came first, followed by Benue, while the Federal Capital Territory (FCT) was third.

“On state profile analysis, the highest average price per litre in August 2023 was recorded in Adamawa with N1,745.83, followed by Benue with N1,468.33 and Abuja with N1,486.89,” NBS stated.

It further revealed that, “On the other hand, the lowest price was recorded in Jigawa with N1,000.00, followed by Edo with N1,104.78 and Kaduna with N1,121.79.”

Using the zonal analysis, North-East experienced the pangs most, South-East came second, and North-West was third.

“In addition, analysis by zone showed that the North-East recorded the highest average retail price per litre of Household Kerosene with N1,370.64, followed by the South-East with N1,332.49, while the North-West recorded the lowest with N1,163.25,” NBS said.

“The average retail price per gallon of Household Kerosene paid by consumers in August 2023 was N4,351.53, showing an increase of 1.06% from N4,306.07 in July 2023. On a year-on-year basis, this increased by 47.63% from N2,947.65 in August 2022.

“On state profile analysis, Lagos recorded the highest average retail price per gallon of Household Kerosene with N5,350.83, followed by Katsina with N4,991.85 and Borno with N4,897.47. On the other hand, Delta recorded the lowest price with N2,945.71, followed by Rivers and Oyo with N3,287.50 and N3,711.79 respectively. 

“Analysis by zone showed that the North-East recorded the highest average retail price per gallon of Household Kerosene with N4,637.71, followed by the South-East with N4,590.69, while the South-South recorded the lowest with N3,727.30,” the Bureau said.