Kerosene Prices in Nigeria Reached New High in July, N2,380 in Some States – NBS

The average retail price of household kerosene in Nigeria hiked to N1,769.86 per litre in July 2024, according to the National Bureau of Statistics (NBS). This marked a 13.81 per cent increase from June’s N1,555.11 and a year-on-year jump of 40.37 per cent from N1,260.81 in July 2023.

The highest prices were recorded in Akwa Ibom, Oyo, and Delta states, where consumers paid N2,383.33, N2,375.00, and N2,309.52 per litre, respectively. The lowest prices were in Adamawa, Taraba, and Borno states, with N1,171.11, N1,191.30, and N1,381.58 per litre.

Regional analysis showed that the South-South had the highest average price at N2,086.61 per litre, followed by the South-West at N2,051.27. The North-East recorded the lowest average price at N1,411.97.

For kerosene sold by the gallon, the average price in July was N5,762.10, up by 1.11 per cent from June’s N5,698.68. This is a 33.81 per cent increase from N4,306.07 recorded in July 2023. Jigawa state had the highest price per gallon at N7,250.00, while Rivers recorded the lowest at N4,234.62.

The North-West region led with the highest average price per gallon at N6,742.41, followed by the North-East at N6,174.76. The North Central region had the lowest average price at N4,988.61.

Read Also: Just In: Cooking Gas Prices Increased in Nigeria by Over 55% In One Year, NBS Reports.

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