News

NBS: Price of Kerosene dropped in November

NBS, inflation

A new report from the National Bureau of Statistics (NBS) has revealed a litre of Kerosene cost N1287.10 in November 2023, 1.23 per cent less than the amount it was sold in October.

The statistics bureau’s data, which Naija News saw on Friday, showed that, in November, the price of kerosene per liter fell by 1.23 percent from the N1,303 per liter it sold for in October.

According to the study, kerosene sold for N1,588.10, N1,521.97, and N1,512.50 in Adamawa, Imo, and Abuja, respectively, with the highest average price per liter reported in these three states.

The report further detailed that Kerosene sold at its lowest in Kwara, Osun and Zamfara.

READ ALSO: Dangote Refinery receives another one million barrels

The NBS report read, “The average retail price per litre of Household Kerosene (HHK) paid by consumers in November 2023 was N1287.10, indicating a decline of 1.23% when compared to N1,303.16 recorded in October 2023. On a year-on-year basis, the average retail price per litre of the product rose by 18.78% from N1,083.57 in November 2022. On state profile analysis, the highest average price per litre in November 2023 was recorded in Adamawa with N1,588.10, followed by Imo with N1,521.97 and Abuja with N1,512.50

“On the other hand, the lowest price was recorded in Kwara with N937.50, followed by Osun with N1,100.00 and Zamfara with N1,125.00. In addition, analysis by zone showed that the South-East recorded the highest average retail price per litre of House hold Kerosene with N1,384.49, followed by the North-East with N1,367.81, while the North-West recorded the lowest with N1,226.75. The average retail price per gallon of Household Kerosene paid by consumers in November 2023 was N4,583.44, showing an increase of 0.03% from N4,581.89 in October 2023. On a year-on-year basis, this increased by 27.51% from N3,594.44 in November 2022.”

About the author

Ihesiulo Grace

Leave a Comment