NBS: Kerosene price rose to N1,769 in July

The National Bureau of Statistics (NBS) says the average retail price per litre of household kerosene paid by consumers in July was N1,769.86.

According to its kerosene price watch released on Tuesday, this shows an increase of 13.81 percent compared to N1,555.11 recorded in June.

“On a year on-year basis, the average retail price per litre of the product rose by 40.37% from N1,260.81 in July 2023,” NBS said.

Based on state profile analysis, the bureau said that the highest price per litre was recorded in Akwa-Ibom at N2,383.33, followed by Oyo at N2,375.00 and Delta at N2,309.52.

NBS said the lowest price was recorded in Adamawa with N1,171.11, followed by Taraba with N1,191.30 and Borno with N1,381.58.

On analysis by zone, NBS said the south-south recorded the highest average retail price per litre of kerosene with N2,086.61, followed by the south-west with N2,051.27, while the north-east recorded the lowest with N1,411.97.

The bureau also reported that the average retail price per gallon of kerosene paid by consumers in July was N5,762.10, indicating an increase of 1.11 percent from N5,698.68 in June.

“On a year-on-year basis, this increased by 33.81% from N4,306.07 in July 2023,” the report added.

On state profile analysis, NBS said Jigawa recorded the highest price per gallon of kerosene with N7,250.00, followed by Taraba with N7,218.27 and Kebbi with N7,158.33.

The bureau said the lowest price was recorded in Rivers at N4,234.62, followed by Delta and Bayelsa with N4,500.00 and N4,800.00 respectively.

NBS said analysis by zone showed that the north-west recorded the highest price per gallon of kerosene with N6,742.41, followed by the north-east with N6,174.76, while the north-central recorded the lowest price with N4,988.61.