Kerosene price rises to ₦1,340 per litre in February 2024

The bureau said this in its Petrol Price Watch for February 2024, released in Abuja on Thursday. It said the February price of ₦1, 340 represented a 0.86% decrease compared to what was obtained in January.

The bureau said the average price per litre of kerosene increased on a year-on-year basis by 14.23% from ₦1, 173 recorded in February 2023 to ₦1, 340 in February 2024.

On state profile analysis, the report showed that Kaduna recorded the highest average price of ₦1, 866 per litre of kerosene in February followed by Benue at ₦1, 769 and Niger at ₦1,710.

“On the other hand, the lowest price was recorded in Bayelsa at ₦971.00, followed by Rivers at ₦1, 065 and Kwara at ₦1,070.”

The NBS said the analysis further showed that the North-Central recorded the highest average retail price per litre of Kerosene at ₦1,486, followed by the North-East at ₦1,387. It said the South-South recorded the lowest average retail price per litre of kerosene at ₦1, 231.

The report said the average retail price per gallon of Kerosene paid by consumers in February 2024, was ₦4,880, indicating a 0.19% increase from ₦4,870 recorded in January 2024.

“On a year-on-year basis, the average price per gallon of kerosene increased by 24.29% from ₦3, 926 recorded in February 2023.

On state profile analysis, it showed that Adamawa recorded the highest average retail price at ₦6, 092 per gallon of kerosene, followed by Bauchi at ₦5, 910 and Kano at ₦5,779.

On the other hand, the report said Delta recorded the lowest price at ₦4, 025, followed by Abuja and Ondo at ₦4, 250 and ₦4,400, respectively.

Analysis by zone showed that the North-East recorded the highest average price per gallon of Kerosene at ₦5, 553, followed by the North- West at ₦5,072.

“The South-East recorded the lowest average price per gallon of kerosene at ₦4, 518,” the NBS said.