Kerosene Now N1,362, Dwarfs Petrol, Diesel Prices
By Nafisat Bello
Consumers of household kerosene in Nigeria are grappling with higher costs as the price surged to an average of N1,362 per litre in December 2023, exceeding the prices of petrol, diesel, and cooking gas.
On Wednesday, the National Bureau of Statistics (NBS) data revealed a 5.8% increase compared to the N1,287 recorded in November 2023.
According to the NBS data, in December 2023, the average retail price per litre of Premium Motor Spirit (PMS) or petrol was N672, Automotive Gasoline Oil (AGO) or diesel was N1,227, and Liquefied Petroleum Gas (LPG) or cooking gas, particularly in Jigawa, cost around N1,145 per 1 kg.
Year-on-year analysis indicates a 23% increase in the average retail price per litre of kerosene, rising from N1,105 in December 2022.
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The state profile revealed that Abuja recorded the highest average price per litre at N1,650, followed by Ogun at N1,610 and Benue at N1,594.
Conversely, the lowest prices were observed in Kwara at N917, Rivers at N970, and Nassarawa at N1,071.
Regarding regional analysis, the South-West had the highest average retail price per litre of kerosene at N1,455, followed by the North-West at N1,420. At the same time, the South-East recorded the lowest at N1,264.
The average retail price per gallon of kerosene in December 2023 was N4,530, reflecting a 1.2% decrease from the N4,583 average recorded in November 2023. Year-on-year, this marked a 21% increase from N3,753 in December 2022.
Bauchi recorded the highest average retail price per gallon at N5,600, trailed by Lagos at N5,274 and Ekiti at N5,234. Conversely, Delta had the lowest price at N3,234, followed by Bayelsa and Kaduna at N3,538 and N3,560, respectively.
Regional analysis of the gallon prices showed the North-East with the highest average at N5,077, the South-West at N5,014, and the South-South with the lowest at N3,957 in December 2023
