Kerosene price stood at N1,354.40 in March – NBS

The National Bureau of Statistics (NBS) says the average retail price of a litre of kerosene increased from N1,340.94 recorded in February 2024 to N1,354.40 in March 2024.

The Bureau said this in its Diesel Price Watch for March 2024, released in Abuja on Friday.

It said the March price of N1,354.40 represented a 1.00 percent increase compared to what was obtained in February 2023 at N1,340.94.

The report said the average price per litre of kerosene increased on a year-on-year basis by 18.55 percent, from N1,142.46 recorded in March 2023 to N1,354.40 in March 2024.

On state profile analysis, the report showed that Kaduna recorded the highest average price of N1,875.00 per litre of kerosene, followed by Benue at N1,773.74 and Niger at N1,719.36.

“On the other hand, the lowest price was recorded in Rivers at N1,070.79, followed by Sokoto at N1,095.33, and Kwara at N1,110.90.”

The NBS said the analysis further showed that the North-Central recorded the highest average retail price per litre of kerosene at N1,497.13, followed by the North-East at N1,393.59.

It said the South-South recorded the lowest average retail price per litre of kerosene at N1,273.07.

The report said the average retail price per gallon of kerosene paid by consumers in March 2024 was N4,899.33, indicating a 0.40 percent increase from N4,880.02 in February 2024.

“On a year-on-year basis, the average price per gallon of kerosene increased by 19.34 percent from N4,105.25 recorded in March 2023.

On state profile analysis, it showed that Adamawa recorded the highest average retail price at N6,110.44, followed by Bauchi at N5,922.30 and Yobe at N5,800.69.

On the other hand, the report said Delta recorded the lowest price at N4,039.14, followed by Abuja and Enugu at N4,300.00 and N4,430.95, respectively.

Analysis by zone showed that the North-East recorded the highest average price per gallon of kerosene at N5,579.78, followed by the North-West at N5,094.26.

“The South-East recorded the lowest average price per gallon of kerosene at N4,527.31,” the NBS said.