POOR Nigerians will have to pay more to get their meals cooked, as the rise in inflation rate to 31.70 per cent in February, has led to an equal increase in price of Household Kerosene (HHK), to N1,340 per litre.
Data from a newly released report, ‘National Household Kerosene Price Watch’ for February 2024, by the National Bureau of Statistics (NBS), obtained on Thursday, showed that price of household kerosene went from N1,329.53 in January, to N1,340.94 in February, showing an increase of 0.86 per cent.
This is as the inflation rate also rose from 29.90 per cent in January, to 31.70 per cent in February.
According to the Bureau, average retail price per litre of HHK paid by consumers in February 2024, was N1,340.94, showing an increase of 0.86% compared to N1,329.53 recorded in January 2024.
On a year-on-year basis, the average retail price per litre of the product rose by 14.23 per cent from N1,173.89 in February 2023.
On state profile analysis, the highest average price per litre in February 2024, was recorded in Kaduna with N1,866.67, followed by Benue with N1,769.67 and Niger with N1,710.89.
On the other hand, the lowest price was recorded in Bayelsa with N971.00, followed by Rivers with N1,065.67 and Kwara with N1,070.44.
In addition, analysis by zone showed that the North Central recorded the highest average retail price per litre of household kerosene with N1,486.50, followed by the North-East with N1,387.58, while the South-South recorded the lowest with N1,231.24.
The average retail price per gallon of the product paid by consumers in February 2024 was N4,880.02, indicating an increase of 0.19 per cent from N4,870.83 in January 2024.
On a year-on-year basis, this increased by 24.29 per cent from N3,926.23 in February 2023.
On state profile analysis, Adamawa recorded the highest average retail price per gallon of HHK with N6,092.50, followed by Bauchi with N5,910.00 and Kano with N5,779.50.
