National Bureau of Statistics Reports Increment in Retail Kerosene Prices

The National Bureau of Statistics (NBS) has disclosed a rise in the average retail price of kerosene per litre, from N1,329 in January 2024 to N1,340 in February 2024, according to its Petrol Price Watch for February 2024, released in Abuja.

The NBS report highlights a 0.86% increase in the February price compared to the previous month, with a year-on-year surge of 14.23% from N1,173 in February 2023 to N1,340 in February 2024.

State-wise analysis reveals Kaduna as having the highest average price of N1,866 per litre, followed by Benue at N1,769 and Niger at N1,710. Conversely, Bayelsa recorded the lowest price at N971, trailed by Rivers at N1,065 and Kwara at N1,070.

The North-Central region recorded the highest average retail price per litre at N1,486, followed by the North-East at N1,387, while the South-South recorded the lowest at N1,231.

Additionally, the report indicates a 0.19% increase in the average retail price per gallon of kerosene, from N4,870 in January 2024 to N4,880 in February 2024. Year-on-year, there’s a 24.29% hike from N3,926 in February 2023.

Adamawa tops the state profile with the highest average retail price at N6,092 per gallon, trailed by Bauchi at N5,910 and Kano at N5,779. Conversely, Delta records the lowest price at N4,025, followed by Abuja and Ondo at N4,250 and N4,400 respectively.

Zone-wise analysis reveals the North-East with the highest average price per gallon at N5,553, followed by the North-West at N5,072, while the South-East records the lowest at N4,518.


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