The National Bureau of Statistics (NBS), says the average retail price of a litre of kerosene increased from N1,329 recorded in January 2024 to N1,340 in February 2024.
The bureau disclosed this information in its Petrol Price Watch for February 2024, which was released in Abuja on Thursday.
It noted that the February price of N1,340 represented a 0.86 percent decrease compared to the figure recorded in January.
According to the bureau, the average price per liter of kerosene increased by 14.23 percent on a year-on-year basis, rising from N1,173 recorded in February 2023 to N1,340 in February 2024.
In the state profile analysis, the report indicated that Kaduna had the highest average price of N1,866 per liter of kerosene in February, followed by Benue at N1,769 and Niger at N1,710.
“On the other hand, the lowest price was recorded in Bayelsa at N971.00, followed by Rivers at N1, 065 and Kwara at N1,070.”
According to the NBS, the analysis revealed that the North-Central had the highest average retail price per liter of kerosene at N1,486, followed by the North-East at N1,387.
Conversely, the South-South recorded the lowest average retail price per liter of kerosene at N1,231.
The report also noted that the average retail price per gallon of kerosene paid by consumers in February 2024 was N4,880, reflecting a 0.19 percent increase from the N4,870 recorded in January 2024.
“On a year-on-year basis, the average price per gallon of kerosene increased by 24.29 per cent from N3, 926 recorded in February 2023.
In the state profile analysis, it was revealed that Adamawa had the highest average retail price of kerosene at N6,092 per gallon, followed by Bauchi at N5,910 and Kano at N5,779.
Conversely, the report indicated that Delta recorded 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 recorded the highest average price per gallon of kerosene at N5,553, followed by the North-West at N5,072.
“The South-East recorded the lowest average price per gallon of kerosene at N4, 518,” the NBS said.