Price Of Kerosene Hits ₦2000 Per Litre In October – NBS

The National Bureau of Statistics (NBS) has revealed that the price of kerosene has sharply risen, further burdening Nigerian households already struggling with rising living costs.

According to the NBS’s latest Price Watch report, the cost of both kerosene per litre and per gallon has increased both month-on-month and year-on-year, with the North Central region reporting the highest average retail prices.

Notably, residents in Abuja, Kaduna, and Akwa Ibom are paying some of the highest prices for the fuel.

The report shows that the average retail price of Household Kerosene (HHK) in October 2024 reached ₦1,957.44 per litre, marking a 3.07% increase from ₦1,957.44 in September 2024.

Year-on-year, the price has surged by 54.81% from ₦1,303.16 in October 2023.

The average retail price per gallon of kerosene also saw an uptick, rising by 1.94% to ₦6,949.75 in October 2024, compared to ₦6,818.11 in September 2024. This represents a 51.68% increase from ₦4,581.89 in October 2023.

State-wise, the report highlights that Abuja recorded the highest average price per litre in October 2024, at ₦2,875.00, followed by Akwa Ibom at ₦2,518.89, and Kaduna at ₦2,500.79.

Conversely, Borno had the lowest price at ₦1,500.30, with Bayelsa and Adamawa following closely at ₦1,500.67 and ₦1,679.19, respectively.

Zonal price analyses reveal that the North Central region saw the highest average price per litre at ₦2,242.67, with the North-West following at ₦2,168.28. Meanwhile, the South-East recorded the lowest price at ₦1,772.94.

In terms of gallon pricing, Katsina had the highest average retail price at ₦8,900.50, followed by Jigawa at ₦8,500.00 and Kebbi at ₦8,300.

Conversely, Adamawa recorded the lowest price per gallon at ₦5,300.44, with Nassarawa and Niger at ₦5,325.41 and ₦5,381.88, respectively.

The report also points out that the North-West region saw the highest average retail price per gallon, at ₦8,070.54, while the North-Central region had the lowest at ₦6,176.20.

This rise in kerosene prices comes amid ongoing fluctuations in the price of petrol, which currently stands at ₦1,120 per litre.