Cooking gas price increases by 86.62% in one year – NBS

The average price of 5 kilogrammes of cooking gas increased from N4, 456.56 in August to N4, 474.48 in September, the National Bureau of Statistics (NBS) has stated.

The NBS, which stated in its “Cooking Gas Price Watch” report for September 2022 released yesterday in Abuja, said that the September price was a 0.40% increase over what was obtained in August. “On a year-on-year basis, the September 2022 price of N4, 474.48 for 5kg of gas was an 86.62% increase over the price of N2, 397.60 obtainable for the same volume in September 2021, it stated.

On States’ profile analysis, the report stated that Kwara recorded the highest average price of N4, 950 for 5kg of cooking gas, followed by Niger at N4, 941.67, and Adamawa at N4, 928.29. It added that Abia recorded the lowest price at N4, 044.44, followed by Anambra and Kano State, at N4, 100.00 and N4, 109.67, respectively.

An analysis by geo-political zones showed that the North-Central recorded the highest average retail price of N4, 715.74, for 5kg cooking gas, followed by the North-East at N4, 539.41. “The South-South recorded the lowest retail price at N4, 317.92, the NBS stated.

It also reported that the average retail price for refilling a 12.5kg cooking gas cylinder increased from N9, 899.34 in August 2022 to N9, 906.44 in September, indicating a 0.07% increase on a month-on-month basis. On a year-on-year basis, the price rose by 60.69%, from N6, 164.97 in September 2021 to the corresponding period in September 2022.

Similarly, kerosene price rose to N947.30 per litre in September, showing a 17.2% increase over the N809.52 for which it was sold in August 2022. According to its report, on a year-on-year basis, the average retail price per litre rose by 118.08%, from N434.39 recorded in September 2021 to N947.30 in September 2022.

Further analysis showed that the highest average price per litre of kerosene in September 2022 was recorded in Enugu State at N1, 272.50; followed by Ebonyi, at N1, 263.89, and Cross-River, at N1, 187.50.

The report showed that the lowest price was recorded in Rivers, at N686.27; followed by Bayelsa, at N715.15, and Nasarawa, at N735.29.

The NBS added that the average retail price per gallon of kerosene in September 2022 was N3, 236.27, showing an increase of 9.79% over the N2, 947.65 recorded in August.

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