Kerosene Price Now Over N2000 Per Litre, Puts Strain On Nigerian Households
The bureau in its latest report on price watch revealed that the price per litre and gallon of kerosene has risen both month on month and year on year with residents in the North Central region paying the highest average retail price, with Abuja, Kaduna, and Akwa Ibom leading the list.
The National Bureau of Statistics (NBS) report has revealed that price of kerosene has significantly increased again, adding more strain to household expenditures.
The bureau in its latest report on price watch revealed that the price per litre and gallon of kerosene has risen both month on month and year on year with residents in the North Central region paying the highest average retail price, with Abuja, Kaduna, and Akwa Ibom leading the list.
According to the report published on its website, NBS revealed that the average retail price per litre of Household Kerosene (HHK) paid by consumers in October 2024 increased to N1,957.44 per litre. This represents a 3.07% increase compared to the price of N1,957.44 recorded in September 2024.
On a year-on-year basis, the average retail price per litre of the product has risen by 54.81% from N1,303.16 in October 2023.
The report further revealed that average retail price per gallon of Household Kerosene paid by consumers in October 2024 increased by 1.94% to N6,949.75, from N6,818.11 in September 2024.
On a year-on-year basis, this increase represents a 51.68% rise from N4,581.89 in October 2023.
According to State-wise analysis of kerosene prices, the report revealed that the highest average price per litre in October 2024 was recorded in Abuja, with N2,875.00, followed by Akwa Ibom with N2,518.89 and Kaduna with N2,500.79.
On the other hand, the lowest price was recorded in Borno, with N1,500.30, followed by Bayelsa with N1,500.67 and Adamawa with N1,679.19.
Furthermore, when analyzing prices by zone, the North Central region recorded the highest average retail price per litre of Household Kerosene, with N2,242.67, followed by the North-West with N2,168.28.
In contrast, the South-East recorded the lowest price, with N1,772.94.
On State-wise analysis by gallon, the report showed that Katsina recorded the highest average retail price per gallon of Household Kerosene, with N8,900.50, followed by Jigawa with N8,500.00 and Kebbi with N8,300.
On the other hand, Adamawa recorded the lowest price, with N5,300.44, followed by Nassarawa and Niger with N5,325.41 and N5,381.88, respectively.
On zonal level analyses, the North-West recorded the highest average retail price per gallon of Household Kerosene, with N8,070.54, followed by the South-East with N7,760.01, while the North-Central recorded the lowest, with N6,176.20.
Meanwhile this comes as petrol prices in Nigeria continue to fluctuate, with the current average price standing at N1120 per litre.
The country’s history with petrol prices has been marked by significant increases over the years, with prices rising from as low as N6000 to N9000 per litre in the 1960s and 1970s to the current rates.
Also, cooking gas has significantly increased forcing Nigerians to seek for alternative like wood for cooking.
