The average price for buying one litre or a gallon of kerosene for cooking by households has increased again A new report from the NBS shows that the price for one litre of kerosene rose by 50.95%, while the price for a gallon increased by 54.43% The highest price increase for a litre was recorded in the North Central region, and for a gallon, it was in the North-West
Henzodaily.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(NBS) has revealed that the average retail price per litre of Household Kerosene (HHK) paid by consumers in 2024 increased to N2,056.38.
This is an increase of 50.95% on a year-on-year basis compared to N1,362.27 recorded in December 2023.
The price of Kerosene has increased.
Photo credit: Nurphoto
Source: Getty Images
On a month-on-month basis, the average retail price per litre of the product rose by 0.66% from N2,042.93 in November 2024.
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The NBS disclosed the figures in its latest price watch report, published on its website and obtained by Henzodaily.ng.
Also, the bureau disclosed that the average retail price per gallon of household kerosene paid by consumers in December 2024 was N6,995.50, indicating an increase of 0.35% from N6,970.99 in November 2024.
While on a year-on-year basis, this increased by 54.43% from N4,529.92 in December 2023.
Breakdown of kerosene price by states and zones
In the state profile analysis, the highest average price per litre of kerosene in December 2024 was in Abuja at N2,950.00, followed by Akwa Ibom at N2,538.26 and Kaduna at N2,510.63.
On the other hand, the lowest price was recorded in Borno at N1,520.41, followed by Bayelsa at N1,537.22 and Adamawa at N1,696.54.
Additionally, the zonal analysis showed that the North Central region recorded the highest average retail price per litre of household kerosene at N2,278.76, followed by the North-West at N2,203.20.
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In contrast, the South-East recorded the lowest average price at N1,795.09, Punch reports.
State breakdown by gallon
On the state profile analysis, Katsina recorded the highest average retail price per gallon of household kerosene at N8,948.00, followed by Jigawa at N8,530.00 and Kebbi at N8,340.00.
Conversely, Adamawa recorded the lowest price at N5,330.80, followed by Nasarawa and Niger at N5,355.00 and N5,400.92, respectively.
Zonal analysis showed that the North-West recorded the highest average retail price per gallon of household kerosene at N8,112.09, followed by the South-East at N7,794.08. In contrast, the North Central recorded the lowest at N6,227.84.
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Henzodaily.ng reported that NBS also revealed that the average retail price of a litre of the Premium Motor Spirit, popularly known as petrol, increased by N1189.12 in December 2024.
December petrol price indicated a 76.99%% increase compared to the N671.86 per litre average price in December 2023.
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The report provided a detailed breakdown of states with the highest petrol prices.
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Source: Henzodaily.ng