The National Bureau of Statistics (NBS) has reported an increase in the average retail price of kerosene in Nigeria. According to the latest Petrol Price Watch for February 2024, the price of a litre of kerosene rose from N1,329 in January to N1,340 in February. Despite this increase, there was a slight decrease of 0.86 percent compared to the previous month.

On a year-on-year basis, the average price per litre of kerosene has risen by 14.23 percent from N1,173 in February 2023 to N1,340 in February 2024. The state profile analysis revealed that Kaduna had the highest average price of N1,866 per litre, followed by Benue at N1,769 and Niger at N1,710. Conversely, Bayelsa had the lowest price at N971, followed by Rivers at N1,065 and Kwara at N1,070.

The North-Central region had the highest average retail price per litre of kerosene at N1,486, followed by the North-East at N1,387. In contrast, the South-South region had the lowest average retail price per litre at N1,231.

The average retail price per gallon of kerosene in February 2024 was N4,880, showing a slight increase of 0.19 percent from January 2024. On a year-on-year basis, the price per gallon increased by 24.29 percent from N3,926 in February 2023.

State profile analysis indicated that Adamawa had the highest average retail price per gallon at N6,092, followed by Bauchi at N5,910 and Kano at N5,779. Conversely, Delta had the lowest price at N4,025, followed by Abuja and Ondo at N4,250 and N4,400 respectively.

Analysis by zone revealed that the North-East had the highest average price per gallon of kerosene at N5,553, followed by the North-West at N5,072. These price fluctuations highlight the challenges faced by consumers in accessing affordable kerosene for their daily needs.