Business

May 24, 2024

Kerosene price rises 6.29% to N1,439.64/ltr

Kerosene

By Shalom Uzochukwu

The average retail price per litre of Household Kerosene (HHK) in Nigeria rose to N1,439.64, representing  a 6.29 per cent, Month-on-Month  increase from the N1,354.40 recorded in March 2024.

The National Bureau of Statistics (NBS) disclosed this in its National Household Kerosene Price Watch for April 2024. 

The report further revealed that on a year-on-year basis, the average retail price per litre of the product rose by 24.04% from N1,160.67 in April 2023.

The NBS said: “On state profile analysis, the highest average price per litre in April 2024 was recorded in Benue with N1,788.47, followed by Kaduna with N1,761.62 and Plateau with N1,717.78. 

“On the other hand, the lowest price was recorded in Katsina with N1,222.22, followed by Jigawa with N1,240.74 and Kwara with N1,252.38.

“ In addition, analysis by zone showed that the North Central recorded the highest average retail price per litre of Household Kerosene with N1,525.27, followed by the South-West with N1,479.24, while the South-East recorded the lowest with N1,391.68. 

“The average retail price per gallon of Household Kerosene paid by consumers in April 2024 was N5,174.23 indicating an increase of 5.61% from N4, 899.33 in March 2024. On a year-on-year basis, this increased by 24.17% from N4,166.94 in April 2023. 

On state profile analysis, Kano recorded the highest average retail price per gallon of Household Kerosene with N6,862.50, followed by Adamawa with N6,266.05 and Yobe with N6,120.41. 

“On the other hand, Kwara recorded the lowest price with N4,226.40, followed by Delta and Akwa Ibom with N4,300.00 and N4,356.67 respectively.  

“Analysis by zone showed that the North-East recorded the highest average retail price per gallon of Household Kero sene with N5,922.63, followed by the North West with N5,538.58, while the North-Central recorded the lowest with N4,634.60.”