Consumers paid an average retail price of N1,354.40 per litre of Household Kerosene (HHK) in March this year, representing an increase of 18.55% from N1,142.46 they paid for the same volume of the product in March 2023.
However, on a month-on-month basis, the average retail price per litre of the product paid by consumers in March 2024 showed an increase of 1.00% compared to N1,340.94 they purchased the same volume in February 2024.
The National Bureau of Statistics (NBS) in its just published ‘National Household Kerosene Price Watch (March 2024)’ reported that on state profile analysis, the highest average price per litre for the product was recorded in Kaduna with N1,875.00, followed by Benue and Niger where counsumers paid N1,773.74 and N1,719.36 respectively.
The Bureau disclosed that on the other hand, the lowest price was recorded in Rivers at N1,070.79, followed by Sokoto at N1,095.33 and Kwara where consumers paid N1,110.90 per litre for the commodity.
In addition, the statistics agency reported that analysis by zone showed that the North Central consumers paid the highest average retail price per litre of Household Kerosene at N1,497.13, followed by the North-East users who also bought at N1,393.59 per litre while the South-South consumers paid the lowest price of N1,273.07 per litre
According to the Bureau, the average retail price per gallon of Household Kerosene paid by consumers in March 2024 was N4,899.33, indicating an increase of 0.40% from N4,880.02 they paid in the preceding month while on a year-on-year basis, the price increased by 19.34% from N4,105.25 in March 2023.
It further clarified that on state profile analysis, Adamawa consumers bought the product at the highest average retail price per gallon of N6,110.44, followed by Bauchi buyers who paid N5,922.30 per gallon and Yobe consumers who bought at N5,800.69 per gallon.
On the other hand, Delta buyers paid the lowest price of N4,039.14 per gallon in the month under review, followed by Abuja and Enugu consumers who paid N4,300.00 and N4,430.95 per gallon respectively.
Analysis of the report by zone showed that the North-East buyers paid the highest average retail price per gallon of the product at N5,579.78, followed by the North-West users who bought at N5,094.26 per gallon, while the South-East consumers paid the lowest average price of N4,527.31 per gallon.
