Kerosene Price Increases 6.3% in April, Says NBS

Kerosene Price Increases 6.3% in April, Says NBS

The National Bureau of Statistics (NBS), says the average retail price of a litre of kerosene increased from N1,354.40 recorded in March 2024, up by about 6.3%, to N1,439.64 in April 2024.

The Bureau said this in its Kerosene Price Watch for April 2024, released in Abuja on Friday. It said the April price of N1,439.64 represented a 6.29 per cent increase compared to what was obtained in March 2024 at N1,354.40. The report said the average price per litre of kerosene increased on year-on-year basis by 24percent,cent from N1,160.67 recorded in April 2023 to N1,439.64 in April 2024.

On state profile analysis, the report showed that Benue recorded the highest average price of N1,788.47 per litre of kerosene, followed by Kaduna at N1,761.62 and Plateau at N1,717.78.

“On the other hand, the lowest price was recorded in Katsina at N1,222.22, followed by JigawaN1,240.74,0.74 and Kwara at N1,252.38.” The NBS said the analysis further showed that the North-Central recorded the highest average retail price per litre of Kerosene at N1,525.27, followed by the South-West at N1,479.24.

It said the South-East recorded the lowest average retail price per litre of kerosene at N1,391.68. The report said the average retail price per gallon of Kerosene paid by consumers in April 2024, was N5,174.23, indicating a 5.61 per cent increase from N4,899.33 in March 2024.

“On a year-on-year basis, the average price per gallon of kerosene increased by 24.17 per cent from N4,166.94 recorded in April 2023. On state profile analysis, it showed that Kano recorded the highest average retail price at N6,862.50, followed by Adamawa at N6,266.05 and Yobe at N6,120.41.

On the other hand, the report said Kwara recorded the lowest price at N4,226.40, followed by Delta and Akwa Ibom at N4,300.00 and N4,356.67, respectively.

Analysis by zone showed that the North-East recorded the highest average price per gallon of Kerosene at N5,922.63, followed by the North West at N5,538.58. The North-Central recorded the lowest average price per gallon of kerosene at N4,634.60, according to NBS. #Kerosene Price Increases 6.3% in April, Says NBS Interest Rate on Nigerian Treasury Bill Spikes to 21.45%
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