Kerosene prices surged 5.84% in December 2023 – NBS

Consumers witnessed a 5.84 percent surge in the average retail price per litre of Household Kerosene (HHK) in December 2023, reaching N1,362.27 compared to N1,287.10 in November 2023, according to the NBS National Household Kerosene Price Watch (December 2023).

The National Bureau of Statistics (NBS) further highlighted a substantial 23.33 percent year-on-year increase from the N1,104.61 recorded in December 2022.

Analysing state profiles, Abuja led with the highest average price per litre at N1,650.00, followed closely by Ogun at N1,609.52 and Benue at N1,594.44. Conversely, Kwara had the lowest recorded price at N917.14, followed by Rivers and Nassarawa.

On a regional scale, NBS pointed out that the South-West claimed the top spot in the average retail price per litre of HHK at N1,455.21 in December 2023. The North-West followed at N1,420.48, while the South-East reported the lowest at N1,264.49.

Examining the data in gallons, NBS reported that the average retail price of Household Kerosene in December 2023 was N4,529.92, reflecting a 1.17 percent decrease from the previous month and a substantial 20.69 percent increase from December 2022.

Breaking down the state profiles, Bauchi led with the highest average retail price at N5,600.00, followed by Lagos and Ekiti.

Delta recorded the lowest price at N3,234.29, trailed by Bayelsa and Kaduna. These findings are based on NBS data.

Zooming to consider regions, the North-East recorded the highest average retail price per gallon of HHK at N5,077.08, closely followed by the South-West at N5,014.48.

In contrast, the South-South reported the lowest at N3,957.17 in December 2023, according to the National Bureau of Statistics.