Kerosene price hit N1,340 per litre in February – NBS


The National Bureau of Statistics has reported a slight increase in the average retail price of kerosene per litre, rising from N1,329 in January 2024 to N1,340 in February 2024.

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According to the bureau’s Petrol Price Watch for February 2024, released in Abuja, this represents a 0.86% increase compared to January’s figures.

Year-on-year analysis shows a 14.23% increase in the average price per litre of kerosene, from N1,173 in February 2023 to N1,340 in February 2024.

State-wise, Kaduna recorded the highest average price per litre at N1,866, followed by Benue at N1,769 and Niger at N1,710. Conversely, Bayelsa recorded the lowest price at N971, trailed by Rivers at N1,065 and Kwara at N1,070.

Further analysis reveals that the North-Central had the highest average retail price per litre at N1,486, followed by the North-East at N1,387. In contrast, the South-South recorded the lowest average retail price per litre of kerosene at N1,231.

Regarding the price per gallon, consumers paid an average of N4,880 in February 2024, a slight increase of 0.19% from January’s N4,870. Year-on-year, this represents a 24.29% increase from N3,926 recorded in February 2023.

State-wise, Adamawa recorded the highest average retail price per gallon at N6,092, followed by Bauchi at N5,910 and Kano at N5,779. Conversely, Delta recorded the lowest price at N4,025, followed by Abuja and Ondo at N4,250 and N4,400, respectively.

Analysis by zone showed the North-East recording the highest average price per gallon at N5,553, followed by the North-West at N5,072. Meanwhile, the South-East recorded the lowest average price per gallon of kerosene at N4,518.


Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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