The latest report from the National Bureau of Statistics (NBS) highlights a significant increase in the price of kerosene, placing additional strain on household budgets.
The report, part of the NBS’s price watch series, shows that the price of kerosene has risen both month-on-month and year-on-year.
Residents in the North Central region are paying the highest average retail prices, with Abuja, Kaduna, and Akwa Ibom topping the list.
In October 2024, the average retail price of Household Kerosene (HHK) reached N1,957.44 per litre, marking a 3.07% increase from the N1,897.12 recorded in September 2024. Year-on-year, the price has risen by 54.81%, up from N1,303.16 in October 2023.
The price per gallon of kerosene also saw a rise, increasing by 1.94% from N6,818.11 in September to N6,949.75 in October 2024. Compared to October 2023, this represents a 51.68% increase from N4,581.89.6State-wise data shows that Abuja recorded the highest average price per litre, at N2,875.00, followed by Akwa Ibom at N2,518.89 and Kaduna at N2,500.79. The lowest prices were found in Borno, with N1,500.30, Bayelsa at N1,500.67, and Adamawa at N1,679.19.
On a regional level, the North Central region led with an average price per litre of N2,242.67, while the North-West followed with N2,168.28. The South-East recorded the lowest price at N1,772.94.8In terms of gallon prices, Katsina recorded the highest average at N8,900.50, followed by Jigawa at N8,500.00 and Kebbi at N8,300.
The lowest prices were in Adamawa (N5,300.44), Nassarawa (N5,325.41), and Niger (N5,381.88).9Regionally, the North-West had the highest average price per gallon at N8,070.54, with the South-East at N7,760.01. The North-Central region had the lowest average gallon price at N6,176.20.
This increase in kerosene prices comes at a time when petrol prices in Nigeria continue to fluctuate, with the current average price at N1,120 per litre.
The country’s fuel price history has seen substantial hikes, with prices rising from as low as N6 to N9 per litre in the 1960s and 1970s to the current levels. Additionally, the cost of cooking gas has surged, pushing many Nigerians to resort to alternatives such as firewood for cooking.
