Consumers of Household Kerosene (HHK) are facing increased financial strain as the price of kerosene surged past that of petrol, diesel, and cooking gas, reaching an average of N1,362 per litre in December 2023.
Data sourced by Channels from the National Bureau of Statistics on Wednesday revealed that the average retail price per litre of HHK paid by consumers in December 2023 was N1,362, marking a 5.8% increase compared to N1,287 recorded in November 2023.
As of December, NBS data indicated that the average price of Premium Motor Spirit (PMS) was N672, Automotive Gasoline Oil (AGO) or diesel was N1,227, while consumers of Liquefied Petroleum Gas (LPG) or cooking gas paid about N1,145 per 1 kg for the product, especially those in Jigawa.
On a year-on-year basis, the average retail price per litre of kerosene rose by 23% from N1,105 in December 2022.
State-wise analysis revealed that the highest average price per litre in December 2023 was recorded in Abuja at N1,650, followed by Ogun at N1,610 and Benue at N1,594. Conversely, Kwara recorded the lowest price at N917, followed by Rivers at N970 and Nassarawa at N1,071.
Analysis by zone showed that the South-West recorded the highest average retail price per litre of HHK at N1,455, followed by the North-West at N1,420, while the South-East recorded the lowest at N1,264.
The average retail price per gallon of kerosene paid by consumers in December 2023 was N4,530, indicating a decline of 1.2% from the N4,583 average consumer price recorded in November 2023. However, on a year-on-year basis, this represented a 21% increase from N3,753 in December 2022.
State-wise, Bauchi recorded the highest average retail price per gallon at N5,600, followed by Lagos at N5,274 and Ekiti at N5,234. Delta recorded the lowest price at N3,234, followed by Bayelsa and Kaduna at N3,538 and N3,560, respectively.
Analysis by zone showed that the North-East recorded the highest average retail price per gallon at N5,077, followed by the South-West at N5,014, while the South-South recorded the lowest at N3,957 in December 2023.
