The National Bureau of Statistics (NBS) has reported another sharp rise in kerosene prices, adding to the mounting pressure on ordinary Nigerians. According to the latest data published on the bureau’s website, the average retail price of Household Kerosene (HHK) surged to N1,957.44 per litre in October 2024, marking a 3.07% increase from September 2024 and a staggering 54.81% rise compared to the same month last year.
This represents a 3.07% increase compared to the price of N1,957.44 recorded in September 2024.
On a year-on-year basis, the average retail price per litre of the product has risen by 54.81% from N1,303.16 in October 2023.
The report further revealed that the average retail price per gallon of Household Kerosene paid by consumers in October 2024 increased by 1.94% to N6,949.75, from N6,818.11 in September 2024.
On a year-on-year basis, the increase represents a 51.68% rise from N4,581.89 in October 2023.
According to State-wise analysis of kerosene prices, the report revealed that the highest average price per litre in October 2024 was recorded in Abuja, with N2,875.00, followed by Akwa Ibom with N2,518.89 and Kaduna with N2,500.79.
On the other hand, the lowest price was recorded in Borno, with N1,500.30, followed by Bayelsa with N1,500.67 and Adamawa with N1,679.19.