Kerosene price stood at N1,450.35 in May — NBS

The National Bureau of Statistics (NBS) says the average retail price of a litre of kerosene increased from N1,439.64 recorded in April 2024 to N1,450.35 in May 2024.

The Bureau said this in its Kerosene Price Watch for May 2024, released in Abuja on Wednesday.

It said the May price of N1,450.35 represented a 0.74 per cent increase compared to what was obtained in April 2024 at N1,439.64

The report said the average price per litre of kerosene increased on a year-on-year basis by 20.26 per cent from N1,206.05 recorded in May 2023 to N1,450.35 in May 2024.

On state profile analysis, the report showed that Benue recorded the highest average price of N1,790.92, followed by Kaduna at N1,769.65 and Cross River at N1,722.94.

“On the other hand, the lowest price was recorded in Katsina at N1,230.81, followed by Kwara at N1,260.07 and Jigawa at N1,263.91.”

The NBS said the analysis further showed that the North-Central recorded the highest average retail price per litre of Kerosene at N1,534.12, followed by the South-West at N1,488.97.

It said the North-East recorded the lowest average retail price per litre of kerosene at N1,408.41.

The report said the average retail price per gallon of Kerosene paid by consumers in May 2024, was N5,196.69, indicating a 0.43 per cent increase from the N5,174.23 in April 2024.

“On a year-on-year basis, the average price per gallon of kerosene increased by 23.49 per cent from N4,208.27 recorded in May 2023.

On state profile analysis, it showed that Kano recorded the highest average retail price at N6,900.28, followed by Adamawa at N6,295.63 and Yobe at N6,140.17.

On the other hand, the report said Kwara recorded the lowest price at N4,235.42, followed by Delta and AkwaIbom at N4,320.39 and N4,362.81, respectively.

Analysis by zone showed that the North-East recorded the highest average price per gallon of Kerosene at N5,951.06, followed by the North- West at N5,560.03.

“The North-Central recorded the lowest average price per gallon of kerosene at N4,659.73 ,” the NBS said.