The National Bureau of Statistics (NBS) has reported a significant increase in the retail price of Household Kerosene (HHK) in July 2024, with consumers paying an average of N1,769.86 per litre. This marks a 13.81% rise from the N1,555.11 recorded in June 2024.
The year-on-year analysis shows an even steeper increase of 40.37% compared to N1,260.81 in July 2023. Akwa-Ibom recorded the highest average price per litre at N2,383.33, followed by Oyo at N2,375.00, and Delta at N2,309.52. Conversely, Adamawa had the lowest price at N1,171.11, followed by Taraba at N1,191.30, and Borno at N1,381.58.
The average retail price per gallon of kerosene also saw an increase, rising by 1.11% to N5,762.10 in July 2024, up from N5,698.68 in June. On a year-on-year basis, the price per gallon jumped by 33.81% from N4,306.07 in July 2023. Jigawa recorded the highest average price per gallon at N7,250.00, with Rivers having the lowest at N4,234.62.
The NBS analysis by region revealed that the North-West had the highest average retail price per gallon at N6,742.41, followed by the North-East at N6,174.76, while the North-Central recorded the lowest average price at N4,988.61.
