See list of 10 states kerosene is most expensive as marketers adjust price again

• Nigerians once again paid more to buy kerosene, a vital source of energy for cooking and heating water in many Nigerian households
• New data from the NBS report shows that both the price of a gallon and a litre of kerosene increased month on month and year on year
• Residents of 10 states paid more for the product, while on a zonal basis, the north recorded the highest prices

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The National Bureau of Statistics has revealed that the average retail price per litre of Household Kerosene (HHK) paid by consumers in May 2024 was N1,450.35.

This is a slight increase of 0.74% when compared to the N1,439.64 average price for a litre recorded in April 2024.

Nigerians pay more to buy Kerosene Photo credit: NBS
Source: Getty Images

However on a year-on-year basis comparison, the average litre of kerosene price in May represents a 20.26% from N1,206.05 in May 2023.

The NBS disclosed this in its latest price watch report published on its website and obtained by Legit.ng.

Breakdown of Kerosene price by states

On state profile analysis, NBS reports that the highest average price per litre in May 2024 was recorded in Benue with N1,790.92, followed by Kaduna with N1,769.65 and Cross River with N1,722.94.

On the other hand, the lowest price was recorded in Katsina with N1,230.81, followed by Kwara with N1,260.07 and Jigawa with N1,263.91.

Breakdown of Kerosene price by zones

n addition, analysis by zone showed that the North Central recorded the highest average retail price per litre of Household Kerosene with N1,534.12, followed by the South-West with N1,488.97, while the North-East recorded the lowest with N1,408.41.

Kerosene price by gallon

NBS also revealed that the average retail price per gallon of Household Kerosene paid by consumers in May 2024 was N5,196.69.

The price quoted indicates an increase of 0.43% from N5,174.23 in April 2024, Punch reports.

While on a year-on-year basis, this increased by 23.49% from N4,208.27 in May 2023

State breakdown by gallon

On state profile analysis, Kano recorded the highest average retail price per gallon of Household Kerosene with N6,900.28, followed by Adamawa with N6,295.63 and Yobe with N6,140.17.

On the other hand, Kwara recorded the lowest price with N4,235.42, followed by Delta and Akwa Ibom with N4,320.39 and N4,362.81 respectively.

Analysis by zone showed that the North-East recorded the highest average retail price per gallon of Household Kerosene with N5,951.06, followed by the North West with N5,560.03, while the North-Central recorded the lowest with N4,659.73.

Here are the 10 most expensive states to buy one litre of kerosene

1. Benue - N1,790.92
2. Kaduna - N1,769.65
3. Cross River - N1,722.94
4. Plateau - N1,720.47
5. Niger - N1,650.76
6. Ondo - N1,644.07
7. Abuja - N1,620.49
8. Zamfara - N1,580.17
9. Ogun - N1,572.35
10. Delta - N1,545.87
11. Osun - N1,511.13

7 major marketers get approval to sell Dangote fuel

Earlier, Legit.ng reported that about seven major oil marketers in Nigeria have registered with the Dangote Petroleum Refinery to lift and distribute refined petroleum products from the plant.

Dealers under the auspices of the Major Oil Marketers Association of Nigeria (MOMAN) confirmed that with the registration, they would begin the distribution of fuel produced at the plant once the commercial terms are finalised.

Source: Legit.ng