NBS Reports: Nigerians Paid ₦1,555 Per Liter For Kerosene In June

NBS Reports: Nigerians Paid ₦1,555 Per Liter For Kerosene In June

National Bureau of Statistics said Nigerians paid average of ₦1,555 per liter for kerosene in June as against what it sold for June 2023.

In its National Household Kerosene Price Watch (June 2024) Report, on Tuesday, NBS said the current price of kerosene rose from  ₦1,450 in May, an increase of 7.22 percent.

According to the report, a liter of kerosene sold for ₦1,236 per liter in June 2023. With the current price, the price rose by 25.73 percent.

“The average retail price per liter of Household Kerosene (HHK) paid by consumers in June 2024 was ₦1,555.11, showing an increase of 7.22% compared to ₦1,450.35 recorded in May 2024. On a year-on-year basis, the average retail price per liter of the product rose by 25.73% from ₦1,236.91 in June 2023,” it read.

Further analysis showed that the price of cooking product for some Nigerian families varies from state to state. While Kaduna, Benue and Zamfara states recorded highest price increase; Kebbi, Taraba and Sokoto states recorded lowest price increase.

The report added: “On state profile analysis, the highest average price per litre in June 2024 was recorded in Kaduna with ₦2,072.92, followed by Benue with ₦2,038.99 and Zamfara with ₦1,833.33.

“On the other hand, the lowest price was recorded in Kebbi with ₦1,248.15, followed by Taraba with ₦1,277.60 and Sokoto with ₦1,300.00.

“In addition, analysis by zone showed that the North Central recorded the highest average retail price per litre of Household Kerosene with ₦1,686.97, followed by the North-West with ₦1,589.68, while the North-East recorded the lowest with ₦1,416.13.

“The average retail price per gallon of Household Kerosene paid by consumers in June 2024 was ₦5,698.68 indicating an increase of 9.66% from ₦5,196.69 in May 2024. On a year-on-year basis, this increased by 33.49% from ₦4,269.13 in June 2023.

“On state profile analysis, Kano and Sokoto recorded the highest average retail price per gallon of Household Kero sene with ₦7,500.00, followed by Kaduna with ₦7,250.00 and Katsina with ₦7,100.00.

“On the other hand, Rivers recorded the lowest price with ₦3,200.00, followed by Niger and Delta with ₦4,290.10 and ₦4,471.43 respectively.

“Analysis by zone showed that the North-West recorded the highest average retail price per gallon of Household Kero sene with ₦6,899.49, followed by the North East with ₦6,155.96, while the South-South recorded the lowest with ₦4,621.95.”