Poor Consumers Pay More, as Kerosene Price Hits N1,362 Per Litre
Consumers of Household Kerosene (HHK) paid more to put food on their tables; as prices surged past those of petrol, diesel and cooking gas last December, hitting an average of N1,362 per litre.
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, Indicating an increase of 5.8 per cent compared to N1,287 recorded in November 2023.
As of last December, NBS data showed that the average price of Premium Motor Spirit (PMS) was N672, Automotive Gasoline Oil (AGO) or diesel was 1227, while consumers of Liquefied Petroleum Gas (LPG) or cooking gas, especially those in Jigawa, paid about N1,145 per 1 kg for the product.
On a year-on-year basis, the average retail price per litre of the product rose by 23 per cent from N1,105 in December 2022.
On state profile analysis, the highest average price per litre in December 2023 was recorded in Abuja with N1,650, followed by Ogun with N1,610 and Benue with N1,594.
On the other hand, the lowest price was recorded in Kwara with N917, followed by Rivers with N970 and Nassarawa with N1,071.
In addition, analysis by zone showed that the South-West recorded the highest average retail price per litre of HHK with N1,455, followed by the North-West with N1,420, while the South-East recorded the lowest with N1,264.
The average retail price per gallon of the product paid by consumers in December 2023 was N4,530, indicating a decline of 1.2 per cent from the N4,583 average consumer price recorded in November 2023.
On a year-on-year basis, this increased by 21 per cent from N3,753 in December 2022.
On state profile analysis, Bauchi recorded the highest average retail price per gallon with N5,600, followed by Lagos with N5,274 and Ekiti with N5,234.
On the other hand, Delta recorded the lowest price with N3,234, followed by Bayelsa and Kaduna with N3,538 and N3,560 respectively.
Analysis by zone showed that the North-East recorded the highest average retail price per gallon with N5,077, followed by the South West with N5,014, while the South-South recorded the lowest with N3,957 in the last month of 2023.
