Data from the National Bureau of Statistics , NBS, indicates that the average retail price per litre of household kerosene paid by consumers in July 2024 was N1,769.86, showing an increase of 13.81 percent compared to N1,555.11 recorded in June 2024.
The surge in price continued to spike despite plummeting purchasing power of Nigerian households since President Bola Tinubu announced an end to Petrol subsidy.
The data said consumers of household kerosene in three states, including oil producing Akwa Ibom, Oyo and Delta states paid the highest average price per litre of N2,383.33; N2,375.00 and N2,309.52 in July 2024 respectively.
On a year on-year basis, the average retail price per litre of the product rose by 40.37 percent from N1,260.81 in July 2023.
On the other hand, the lowest price was recorded in Adamawa State with N1,171.11, followed by Taraba State with N1,191.30 and Borno State with N1,381.58.
In addition, analysis by zone showed that the South-South recorded the highest average retail price per litre of household 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.
According to the statistics bureau, the average retail price per gallon of household kerosene paid by consumers in July 2024 was N5,762.10 indicating an increase of 1.11 percent from N5,698.68 in June 2024.
On a year-on-year basis, this increased by 33.81 percent from N4,306.07 in July 2023.
On state profile analysis, Jigawa recorded the highest average retail price per gallon of household kerosene with N7,250.00, followed by Taraba with N7,218.27 and Kebbi with N7,158.33.
On the other hand, Rivers State recorded the lowest price with N4,234.62, followed by Delta and Bayelsa with N4,500.00 and N4,800.00 respectively.
Analysis by zone showed that the North-West recorded the highest average retail price per gallon of household kerosene with N6,742.41, followed by the North East with N6,174.76, while the North Central recorded the lowest with N4,988.61
