Data compiled by the National Bureau of Statistics indicates that the average retail price for one litre of kerosene saw an increase, jumping from N1,329 in January 2024 to N1,340 in February 2024.
This announcement was made in the Petrol Price Watch for February 2024, issued by the bureau in Abuja on Thursday.
The bureau noted that the February price of N1,340 represented a 0.86 percent uptick compared to the January rate.
The bureau’s statistics revealed a 14.23 percent year-on-year rise in the average price per litre of kerosene, climbing from N1,173 in February 2023 to N1,340 in February 2024.
The report’s breakdown of state profiles unveiled that Kaduna led with the highest average price of N1,866 per litre of kerosene in February, with Benue following at N1,769 and Niger at N1,710.
“On the other hand, the lowest price was recorded in Bayelsa at N971.00, followed by Rivers at N1,065 and Kwara at N1,070,” the report read.
The NBS said the analysis further showed that the North-Central recorded the highest average retail price per litre at N1,486, followed by the North-East at N1,387.
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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.
Conversely, the report highlighted Delta’s position with the lowest price recorded at N4,025, while Abuja and Ondo followed at N4,250 and N4,400, respectively.
Zone-based analysis revealed that the North-East boasted the highest average price per gallon of kerosene at N5,553, followed closely 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.