The National Bureau of Statistics (NBS) reported on Wednesday that average retail price per litre of Household Kerosene (HHK) paid by consumers in January was N1,329.53, representing a decline of 2.40% compared to N1,362.27 paid by them in December 2023.
The Bureau, in its ‘National Household Kerosene Price Watch (January 2024)’ hoisted on its website, indicated, however, that on a year-on-year basis, the average retail price per litre of the product rose by 15.27% from N1,153.40 in January 2023.
According to the report, state profile analysis of the commodity’s price showed that the highest average price per litre in January 2024 was recorded in Kaduna with N1,833.33, followed by Benue with N1,766.67 and Niger with N1,703.70.
On the other hand, the lowest price was recorded in Bayelsa with N969.70, followed by Rivers with N1,057.69 and Kwara with N1,066.67.
In addition, analysis by zone showed that the North Central recorded the highest average retail price per litre of Household Kerosene with N1,479.10, followed by the North-East with N1,381.94, while the South-South recorded the lowest with N1,225.83.
The Bureau reported that the average retail price per gallon of kerosene paid by consumers in the month under review was N4, 870.83, indicating an increase of 7.53% from N4,529.92 paid by consumers in December 2023.
However, it clarified that on a year-on-year basis, the price increased by 25.34% from N3, 886.11 in January 2023.
On state profile analysis, Adamawa recorded the highest average retail price per gallon of Household Kerosene with N6,083.33, followed by Bauchi with N5,800.00 and Kano with N5,777.78. On the other hand, Delta recorded the lowest price with N4,000.00, followed by Ondo and Enugu with N4,398.03 and N4,409.05 respectively.
Analysis by zone showed that the North-East recorded the highest average retail price per gallon of Household Kerosene with N5,526.39, followed by the North West with N5,062.78, while the South-East recorded the lowest with N4,508.51.
In a related report titled ‘Automotive Gas Oil (Diesel) Price Watch (January 2024)’, the statistics agency disclosed that the average retail price of Automotive Gas Oil (Diesel) paid by consumers increased N1153.01 per litre in January this year on a year-on-year basis from N828.82 per litre recorded in the corresponding month of last year, representing a 39.11% increase.
The Bureau clarified that on a month-on-month basis, the price of the commodity increased by 2.34% from N1126.69 in the preceding month to an average of N1153.01 in January 2024.
It stated that when the variations were analyzed on state-by-state basis, the top three states with the highest average price of the product in January 2024 were Kebbi State, (N1433.33); Kogi State, (N1300.00); and Abuja (N1226.70).
Conversely, the Bureau reported that the top three lowest prices were recorded in Borno State, (N927.27); Kano State, (N940.89); and Taraba State (N988.33).
On zonal basis, it disclosed that the average price of Automotive Gas Oil (Diesel) showed that North Central Zone had the highest price of N1205.11 while North East Zone recorded the lowest price of N1074.03 when compared with other zones.
