According to the National Bureau of Statistics, the average retail price of a litre of kerosene increased from N1,329 in January 2024 to N1,340 in February of the same year.
This was stated by the bureau in its Petrol Price Watch for February 2024, which was made public on Thursday in Abuja.
According to the statement, the price in February was N1,340, which was 0.86 percent higher than the price in January.
According to the bureau, the average price of a litre of kerosene increased from N1,173 in February 2023 to N1,340 in February 2024, representing a 14.23% annual increase.
According to the state profile analysis, Kaduna had the highest average price of N1,866 per litre of kerosene in February, followed by Niger at N1,710 and Benue at N1,769, according to the report.
However, the report stated that Bayelsa had the lowest price, at N971.00, followed by Rivers at N1,065 and Kwara at N1,070.
The North-Central region had the highest average retail price per litre, N1,486, followed by the North-East region at N1,387, according to the NBS’s analysis.
It said the South-South recorded the lowest average retail price per litre of kerosene 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.
On state profile analysis, it showed that Adamawa recorded the highest average retail price at N6,092 per gallon of kerosene, followed by Bauchi at N5,910 and Kano at N5,779.
On the other hand, the report said Delta recorded the lowest price at N4,025, followed by Abuja and Ondo at N4,250 and N4,400, respectively.
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.
“The South-East recorded the lowest average price per gallon of kerosene at N4,518,” the NBS said.
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